Issues with Economic and Social systems modelling. Mariam Kiran University of Sheffield. Future Research Directions in Agent Based Modelling June 2010. Talk Agenda. Agent-based modelling for socio-economic systems as compared to the traditional methods. Case study: EURACE model
Issues with Economic and Social systems modelling
University of Sheffield
Future Research Directions in Agent Based Modelling
ABMs can overcome some of these issues, like
populations, heterogeneity , etc
The first attempt for economic modellers to merge more than one market together to represent a complete economy.
Each individual is considered as a agent like households, firms or more.
Various computer scientists and economists worked together to achieve the goals of this project (8 universities)
Large complicated agents and large concentrations.
Too much of communication overhead for agents communicating with each other.
Economists had very little programming experience.
Uses distributed memory model Single Program Multiple Data (SPMD).
Synchronisation helps prevent deadlocks.
Uses Message Passing Interface to communicate messages
Using filters and added iterators have helped quicken message parsing for agents.
The effect of Fiscal tightening (FT) and Quantitative Easing (QE) on price and wage levels
Specific skill levels of workers when the labour markets are open or closed.
The effect on GDP growth with and without energy crisis
Predicts that not increasing taxes will allow UK to recover from the recession.
Opening borders across the EU benefits all countries for the labour market.
Energy shocks to the system. System came back to an equilibrium when this happened.
Initial Structure = In-Star
Geometric partitioning is when agents are distributed across processors based on their x and y coordinates
Round robin partitioning is when agents are distributed evenly across processions
Time increases as number of nodes are increased
Time is unchanged with nodes
Sugarscape + IPD Model
Think about the kind of models.
Initial distribution of agents on processors.
Is the model correct? Run the model till we reach equilibrium.
Copying files across for data analysis. GB of data can take hours to copy across.
Communication problems between computer scientists and economists, sociologists.
Different time expectations between disciplines.
Ant Phermone trails