Agent-Based Models
Published in The New Palgrave Dictionary of Economics • Jan 1, 2018
NobleIDNI0P47W29R44S19
Authors:
Scott E. Page
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 – l...
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