Computational Economics

, Volume 12, Issue 3, pp 223–241

ASPEN: A Microsimulation Model of the Economy

  • N. Basu
  • R. Pryor
  • T. Quint
Article

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 model microsimulation genetic algorithm monetary policy US economy 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Kluwer Academic Publishers 1998

Authors and Affiliations

  • N. Basu
    • 1
  • R. Pryor
    • 2
  • T. Quint
    • 3
  1. 1.AT&T Customer SciencesBasking RidgeUSA
  2. 2.Sandia National LaboratoriesAlbuquerqueUSA
  3. 3.Department of MathematicsUniversity of NevadaRenoUSA

Personalised recommendations