Agent-Based Social Simulation in Markets

Authors:
Koen Bertels;Magnus Boman
Affiliations:
Department of Business Administration, University of Namur, Rempart de la Vierge 8, B-5000 Namur, Belgium koen.bertels@fundp.ac.be;Department of Computer and Systems Sciences, Stockholm University and the Royal Institute of Technology, Electrum 230, SE-164 40 Kista, Sweden mab@dsv.su.se
Venue:
Electronic Commerce Research - Special issue on agents in electronic commerce
Year:
2001

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Abstract

We show that certain desired behavioural properties of agent-based models can be deterministically induced by an appropriate mathematical structure. We also point out problems related to the handling of parameters, and of the modelling of time, in agent-based models. Our purpose is to illustrate some problems of agent-based social simulations in markets, as a first step towards the more ambitious goal of providing a methodology for such simulations.