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Eastern Economic Journal

, Volume 37, Issue 1, pp 44–50 | Cite as

Agent-based Models for Economic Policy Design

  • Herbert Dawid
  • Michael Neugart
Article

Abstract

Agent-based simulation models are used by an increasing number of scholars as a tool for providing evaluations of economic policy measures and policy recommendations in complex environments. On the basis of recent work in this area we discuss the advantages of agent-based modeling for economic policy design and identify further needs to be addressed for strengthening this methodological approach as a basis for sound policy advice.

Keywords

agent-based modelling economic policy design spatial models macroeconomics behavioral foundations 

JEL Classifications

C63 

Notes

Acknowledgements

Most of the work discussed in this paper was carried out in cooperation with Philipp Harting and Simon Gemkow. The EURACE project (EU IST FP6 STREP grant 035086) was carried out by a consortium lead by S. Cincotti (University of Genova), H. Dawid (University of Bielefeld), C. Deissenberg (Universitè de la Mediterranè), K. Erkan (TUBITAK National Research Institute of Electronics and Cryptology), M. Gallegati (Università Politecnica delle Marche), M. Holcombe (University of Sheffield), M. Marchesi (Università di Cagliari), C. Greenough (STFC — Rutherford Appleton Laboratory).

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Copyright information

© Eastern Economic Association 2010

Authors and Affiliations

  • Herbert Dawid
    • 1
  • Michael Neugart
    • 2
  1. 1.Department of EconomicsUniversity of BielefeldBielefeldGermany
  2. 2.School of Economics and Management, Free University of BozenBolzanoItaly

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