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Projection of a Heterogenous Agent-Based Production Economy Model to a Closed Dynamics of Aggregate Variables

Kristian Lindgren (Institutionen för energi och miljö, Fysisk resursteori) ; Emma Jonson (Institutionen för energi och miljö, Fysisk resursteori) ; Liv Lundberg (Institutionen för energi och miljö, Fysisk resursteori)
Advances in Complex Systems (0219-5259). Vol. 18 (2015), p. 1550012.
[Artikel, refereegranskad vetenskaplig]

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.

Nyckelord: Agent-based model; model projection; aggregate dynamics; agricultural land-use; stability



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Denna post skapades 2015-12-31. Senast ändrad 2016-05-30.
CPL Pubid: 229364

 

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Institutioner (Chalmers)

Institutionen för energi och miljö, Fysisk resursteori

Ämnesområden

Energi
Hållbar utveckling
Nationalekonomi

Chalmers infrastruktur

 


Projekt

Denna publikation är ett resultat av följande projekt:


MATHEmatics of Multi-level Anticipatory Complex Systems (MATHEMACS) (EC/FP7/318723)