Computational Economics

, Volume 12, Issue 3, pp 223–241

ASPEN: A Microsimulation Model of the Economy

Authors

  • N. Basu
    • AT&T Customer Sciences
  • R. Pryor
    • Sandia National Laboratories
  • T. Quint
    • Department of MathematicsUniversity of Nevada
Article

DOI: 10.1023/A:1008691115079

Cite this article as:
Basu, N., Pryor, R. & Quint, T. Computational Economics (1998) 12: 223. doi:10.1023/A:1008691115079

Abstract

In this report we present ASPEN, a new agent-based microeconomic simulation model of the U.S. economy being developed at Sandia National Laboratories (SNL). The model is notable because it allows a large number of individual economic agents to be modeled at a high level of detail and with a great degree of freedom. Some of the features of ASPEN are (a) a sophisticated message-passing system which allows individual pairs of agents to communicate with one another, (b) the use of genetic algorithms to simulate certain agents' learning, and (c) a detailed financial sector which includes a banking system and a bond market. Results from runs of the model are also presented.

agent-based modelmicrosimulationgenetic algorithmmonetary policyUS economy

Copyright information

© Kluwer Academic Publishers 1998