Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/22795
Authors: 
Pyka, Andreas
Fagiolo, Giorgio
Year of Publication: 
2005
Series/Report no.: 
Volkswirtschaftliche Diskussionsreihe / Institut für Volkswirtschaftslehre der Universität Augsburg 272
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.
Subjects: 
Simulation
Neo-Schumpeterian Economics
Agents
JEL: 
O30
B52
Document Type: 
Working Paper

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