Advances in Computational Economics

Agent-Based Computer Simulation of Dichotomous Economic Growth

Authors: McCain, Roger A.

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About this book

Agent-Based Computer Simulation of Dichotomous Economic Growth reports a project in agent-based computer stimulation of processes of economic growth in a population of boundedly rational learning agents.
The study is an exercise in comparative simulation. That is, the same family of growth models will be simulated under different assumptions about the nature of the learning process and details of the production and growth processes. The purpose of this procedure is to establish a relationship between the assumptions and the simulation results.
The study brings together a number of theoretical and technical developments, only some of which may be familiar to any particular reader. In this first chapter, some issues in economic growth are reviewed and the objectives of the study are outlined. In the second chapter, the simulation techniques are introduced and illustrated with baseline simulations of boundedly rational learning processes that do not involve the complications of dealing with long-run economic growth. The third chapter sketches the consensus modern theory of economic growth which is the starting point for further study. In the fourth chapter, a family of steady growth models are simulated, bringing the simulation, growth and learning aspects of the study together. In subsequent chapters, variants on the growth model are explored in a similar way. The ninth chapter introduces trade, with a spacial trading model that is combined with the growth model in the tenth chapter.
The book returns again and again to the key question: to what extent can the simulations `explain' the puzzles of economic growth, and particularly the key puzzle of dichotomization, by constructing growth and learning processes that produce the puzzling results? And just what assumptions of the simulations are most predictable associated with the puzzling results?

Table of contents (11 chapters)

  • Introduction

    McCain, Roger A.

    Pages 1-4

  • Dichotomization without Steady Growth: Baseline Simulations

    McCain, Roger A.

    Pages 5-30

  • Steady Economic Growth: The Cobb-Douglas Case with “Engineering-School” Human Capital

    McCain, Roger A.

    Pages 31-38

  • Simulations of Steady Economic Growth with a Cobb-Douglas Production Function

    McCain, Roger A.

    Pages 39-54

  • Growth with Non-Unitary Elasticities of Substitution

    McCain, Roger A.

    Pages 55-70

Buy this book

eBook $119.00
price for USA (gross)
  • ISBN 978-1-4615-4613-9
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $199.00
price for USA
  • ISBN 978-0-7923-8688-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $159.00
price for USA
  • ISBN 978-1-4613-7085-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Agent-Based Computer Simulation of Dichotomous Economic Growth
Authors
Series Title
Advances in Computational Economics
Series Volume
13
Copyright
2000
Publisher
Springer US
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-1-4615-4613-9
DOI
10.1007/978-1-4615-4613-9
Hardcover ISBN
978-0-7923-8688-9
Softcover ISBN
978-1-4613-7085-7
Series ISSN
0929-130X
Edition Number
1
Number of Pages
IX, 163
Topics