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- W4206181502 abstract "Agent-based models consist of purposeful agents who interact in space and time and whose micro-level interactions create emergent patterns. Agent-based models consist not of real people but of computational objects that interact according to rules. The four primary features of agent-based models – learning, networks, externalities, and heterogeneity – though previously far from neoclassical economics, have become part of the mainstream. Agent-based models allow us to consider richer environments that include these features with greater fidelity than do existing techniques. They occupy a middle ground between stark, dry rigorous mathematics and loose, possibly inconsistent, descriptive accounts." @default.
- W4206181502 created "2022-01-25" @default.
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- W4206181502 date "2008-01-01" @default.
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- W4206181502 title "Agent-Based Models" @default.
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- W4206181502 doi "https://doi.org/10.1057/978-1-349-95121-5_1992-1" @default.
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