Abstract
In this chapter we introduce an approach to individual based modelling of social and economic systems. Microsimulation models (MSM) appear similar to ABM through the representation of individual decision-making units, but there is a significant variation of emphasis between the two approaches. MSM are typically stochastic or rule-based, and with a strong applied policy focus. These characteristics are explored and elaborated through a number of examples. While MSM are often very rich in their representation of ‘structures’, ABM are usually better tuned to the analysis of ‘behaviours’. We therefore argue that there is a strong logic to considering the MSM and ABM approaches as complementary and to begin a search for hybrids which might combine the best features of both approaches.
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Birkin, M., Wu, B. (2012). A Review of Microsimulation and Hybrid Agent-Based Approaches. In: Heppenstall, A., Crooks, A., See, L., Batty, M. (eds) Agent-Based Models of Geographical Systems. Springer, Dordrecht. https://doi.org/10.1007/978-90-481-8927-4_3
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