Interacting agent model describing some evolution of economic entities under varying spatio-temporal economic conditions.

Marcel Ausloos 1Janusz Miśkiewicz 2Andrzej Pękalski 2

1. University of Liege (ULg), B5, Liège 4000, Belgium
2. Wrocław University, Institute of Theoretical Physics (IFT UWr), pl. Maksa Borna 9, Wrocław 50-205, Poland

Abstract

Economic conditions change with time and in space. We raise a few modern questions on economic policy: delocalization, globalization, cycles … We have developed a highly simplified agent based model providing a stylized geographical type of framework in order to tackle such questions. We investigate some of these and report quantitative results similar to qualitative features. The model contains several parameters: lattice size(s), lattice symmetry (or symmetries), initial concentration(s), economic field time sequence(s), selection pressure, diffusion process rule(s), enterprise-enterprise "interaction"(s), business plan(s) and enterprise evolution law(s), economy policy time delay implementation. It is found that the model even in its simple forms can lead to a large variety of situations, including: stationary solutions and cycles, but also chaotic behavior. Warnings on the model simplicity are in order, but also suggestions for control and development of economic strategies.

Related papers
  1. The influence of time delay in information flow on the economy system evolution.
  2. Threshold Model for Triggered Financial Bubbles on Networks
  3. Clusters in weighted macroeconomic networks: the EU case
  4. Structural and magnetic properties of nanosized barium hexaferrite powders obtained by microemulsion techniques
  5. Correlations between the most developed economies - network analysis

Presentation: Invited oral at 3 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych", by Marcel Ausloos
See On-line Journal of 3 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych"

Submitted: 2007-11-12 10:27
Revised:   2009-06-07 00:48
Google
 
Web science24.com
© 1998-2010 pielaszek research, all rights reserved Powered by the Conference Engine