Abstract
EURACE is a major European attempt to construct an agent-based model of the European economy with a very large population of autonomous, purposive agents interacting in a complicated economic environment. To create it, major advances are needed, in particular in terms of economic modeling and software engineering. In this paper, we describe the general structure of the economic model developed for EURACE and present the Flexible Large-scale Agent Modelling Environment (FLAME) that will be used to describe the agents and run the model on massively parallel supercomputers. Illustrative simulations with a simplified model based on EURACE’s labor market module are presented.
Highlights
24 Juin 2008Christophe Deissenberg a,∗, Sander van der Hoog a, Herbert Dawid b, aGREQAM, Universite de la Mediterranee, Chateau Lafarge, Route des Milles, 13290 Les Milles, France bBielefeld University, Dept. of Business Administration and Economics, Universitatsstrasse 25, D-33615 Bielefeld, Germany
Research in economics has traditionally been and, to a large degree, still is based on the development and analysis of highly stylized, analytically tractable models
It is populated with purposive agents that move around the landscape, communicate with other agents, work, consume, learn, invest, speculate on financial markets – that is, that potentially conduct all human activities of interest
Summary
Christophe Deissenberg a,∗, Sander van der Hoog a, Herbert Dawid b, aGREQAM, Universite de la Mediterranee, Chateau Lafarge, Route des Milles, 13290 Les Milles, France bBielefeld University, Dept. of Business Administration and Economics, Universitatsstrasse 25, D-33615 Bielefeld, Germany
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