Adaptive economic models

Using Self-Adaptive Multi-Agent Systems to Simulate Economic Models

Economic markets are complex systems. They are characterized by a large and dynamic population of firms. To deal with this complexity, we propose an adaptive multi-agent system which models a set of firms in competition with each other within a shared market. The firms are represented by agents; each firm is represented by an adaptive agent. We show the advantages of adaptive agents to represen...

Economic and Econometric Models

Models of Economic Growth

Economic Models as Analogies*

People often wonder why economists analyse models whose assumptions are known to be false, while economists feel that they learn a lot from such exercises. We suggest that part of the knowledge generated by academic economists is case-based rather than rule-based. That is, instead of offering general rules or theories that should be contrasted with data, economists often analyse models that are...

Analysis of the Effect of Regional Creativity on Regional Economic Growth within New Economic Geographical Models

A mong the theories explaining the relationship between creativity criteria in cities and economic growth, “Human Capital Theory” by Glaeser and “Creative Class theory” by Florida can be mentioned. Accordingly, present paper aimed at analysis of the creativity effect on regional economic growth and is presented in two theoretical and experimental parts. Considering the results of the curre...