2019/01/23 by Hossein Sabzian, Mohammad Ali Shafia, Sabzian, Hossein +9
Decision Sciences · Economics, Econometrics and Finance · Social Sciences · #Complex Systems and Time Series Analysis #Evolutionary Game Theory and Cooperation #FOS: Economics and business #Innovation Diffusion and Forecasting #Theoretical Economics (econ.TH)
paper · pdf · doi:10.48550/arxiv.1901.08932
openalex publication_date 2019/01/23 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
Nowadays, we are surrounded by a large number of complex phenomena ranging\nfrom rumor spreading, social norms formation to rise of new economic trends and\ndisruption of traditional businesses. To deal with such phenomena,Complex\nAdaptive System (CAS) framework has been found very influential among social\nscientists,especially economists. As the most powerful methodology of CAS\nmodeling, Agent-based modeling (ABM) has gained a growing application among\nacademicians and practitioners. ABMs show how simple behavioral rules of agents\nand local interactions among them at micro-scale can generate surprisingly\ncomplex patterns at macro-scale. Despite a growing number of ABM publications,\nthose researchers unfamiliar with this methodology have to study a number of\nworks to understand (1) the why and what of ABMs and (2) the ways they are\nrigorously developed. Therefore, the major focus of this paper is to help\nsocial sciences researchers,especially economists get a big picture of ABMs and\nknow how to develop them both systematically and rigorously.\n