{"product_id":"agent-based-modelling-in-economics","title":"Agent-Based Modelling in Economics","description":"\u003cp\u003eAgent-based modelling in economics\u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e \u003cp\u003e\u003ci\u003eLynne Hamill and Nigel Gilbert, Centre for Research in Social Simulation (CRESS), University of Surrey, UK\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e \u003cp\u003eNew methods of economic modelling have been sought as a result of the global economic downturn in 2008.This unique book highlights the benefits of an agent-based modelling (ABM) approach. It demonstrates how ABM can easily handle complexity: heterogeneous people, households and firms interacting dynamically. Unlike traditional methods, ABM does not require people or firms to optimise or economic systems to reach equilibrium. ABM offers a way to link micro foundations directly to the macro situation. \u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e \u003cp\u003e\u003ci\u003eKey features\u003c\/i\u003e:\u003c\/p\u003e \u003cul\u003e\n\u003cli\u003eIntroduces the concept of agent-based modelling and shows how it differs from existing approaches.\u003c\/li\u003e\n\u003cli\u003eProvides a theoretical and methodological rationale for using ABM in economics, along with practical advice on how to design and create the models.\u003c\/li\u003e\n\u003cli\u003eEach chapter starts with a short summary of the relevant economic theory and then shows how to apply ABM.\u003c\/li\u003e\n\u003cli\u003eExplores both topics covered in basic economics textbooks and current important policy themes; unemployment, exchange rates, banking and environmental issues.\u003c\/li\u003e\n\u003cli\u003eDescribes the models in pseudocode, enabling the reader to develop programs in their chosen language.\u003c\/li\u003e\n\u003cli\u003eSupported by a website featuring the NetLogo models described in the book.\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003e \u003c\/p\u003e \u003cp\u003e\u003ci\u003eAgent-based Modelling in Economics \u003c\/i\u003eprovides students and researchers with the skills to design, implement, and analyze agent-based models. Third year undergraduate, master and doctoral students, faculty and professional economists will find this book an invaluable resource.\u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":54221689651544,"sku":"9781118456071","price":55.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9781118456071_7893292d-5da6-40f5-8b1e-377d9b240c5f.jpg?v=1770263139","url":"https:\/\/agendabookshop.com\/products\/agent-based-modelling-in-economics","provider":"Agenda Bookshop","version":"1.0","type":"link"}