Agent-based Modeling for Decision Making in Economics under Uncertainty
| Autor: | Andreas Pyka, Bart Vermeulen |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2015 |
| Předmět: |
jel:D81
policy instrument jel:C63 rationality Psychological intervention Social Sciences Rationality Schumpeter 02 engineering and technology Microeconomics decision making uncertainty rationality agent-based model policy instrument innovation economics Schumpeter B52 0502 economics and business ddc:330 0202 electrical engineering electronic engineering information engineering Economics uncertainty HB71-74 Market failure Agent-based model O32 P10 Operationalization Management science Interpretation (philosophy) 05 social sciences innovation economics jel:B52 agent-based model D81 Economics as a science C63 jel:P10 Innovation economics jel:O32 020201 artificial intelligence & image processing Economic model Decision making General Economics Econometrics and Finance 050203 business & management |
| Zdroj: | Economics : the Open-Access, Open-Assessment e-Journal (2015) Economics : the Open-Access, Open-Assessment e-Journal (2016) |
| Popis: | Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties, inefficiencies, and market failures faced by the agents in the economy, and, secondly, the activities, network structure, and interactions in the innovation and production system. The authors discuss ins-and-outs of developing and using (encompassing and empirically calibrated) agent-based models for (i) abductive theorizing about causes for empirical realities, and (ii) evaluating effects of policy interventions. To ensure that derived policies are suitable to intervene in the real world and not just the stylization of it, they discuss validity and operationalization of agent-based models as well as interpretation of simulation results. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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