| By: |
Andreas Pyka (University of Augsburg, Department of Economics);
Giorgio Fagiolo (Laboratory of Economics and Management, Pisa (Italy)) |
| Abstract: |
Modellers have had to wrestle with an unavoidable trade-off between the demand
of a general theoretical approach and the descriptive accuracy required to
model a particular phenomenon. A new class of simulation models has shown to
be well adapted to this challenge, basically by shifting outwards this
trade-off: So-called agent-based models (ABMs henceforth) are increasingly
used for the modelling of socio-economic developments. Our paper deals with
the new requirements for modelling entailed by the necessity to focus on
qualitative developments, pattern formation, etc. which is generally
highlighted within Neo-Schumpeterian Economics and the possibilities given by
ABMs. |
| Keywords: |
Simulation, Neo-Schumpeterian Economics, Agents |
| JEL: |
B52 O30 |
| Date: |
2005–02 |
| URL: |
http://d.repec.org/n?u=RePEc:aug:augsbe:0272&r=hpe |