Projection of a Heterogenous Agent-Based Production Economy Model to a Closed Dynamics of Aggregate Variables
Artikel i vetenskaplig tidskrift, 2015

A model framework that describes a simple production economy is presented, in which the micro-dynamics can be projected to a closed dynamics of aggregate variables. The construction is based on an agent-based model with heterogeneity both regarding pro- duction characteristics and the strategies agents use to predict future prices as a basis for choosing what to produce. The world is divided into a number of regional markets that collect the locally produced goods and via inter-market trade supply regional demands with goods. We discuss the model features that make it possible to project the agent- based micro-dynamics to a closed form dynamics on the level of regionally aggregate quantities. One advantage of such a projection from a high dimensional agent-based dynamics to a low dimensional dynamical system is that the stability characteristics can be analytically approached, and this is illustrated by a derived condition for when a mix of naive and rational agents can stabilize the system. Some illustrations of the general framework in a model of global agricultural land-use are also given.

stability

agricultural land-use

aggregate dynamics

model projection

Agent-based model

Författare

Kristian Lindgren

Chalmers, Energi och miljö, Fysisk resursteori

Emma Jonson

Chalmers, Energi och miljö, Fysisk resursteori

Liv Lundberg

Chalmers, Energi och miljö, Fysisk resursteori

Advances in Complex Systems

0219-5259 (ISSN)

Vol. 18 1550012-

Drivkrafter

Hållbar utveckling

Styrkeområden

Energi

Ämneskategorier

Nationalekonomi

Fundament

Grundläggande vetenskaper

DOI

10.1142/S0219525915500125