The Price Evolution with Expectations model provides the opportunity to explore the question of non-equilibrium market dynamics, and how and under which conditions an economic system converges to the classically defined economic equilibrium. To accomplish this, we bring together two points of view of the economy; the classical perspective of general equilibrium theory and an evolutionary perspective, in which the current development of the economic system determines the possibilities for further evolution.

The Price Evolution with Expectations model consists of a representative firm producing no profit but producing a single good, which we call sugar, and a representative household which provides labour to the firm and purchases sugar.The model explores the evolutionary dynamics whereby the firm does not initially know the household demand but eventually this demand and thus the correct price for sugar given the household’s optimal labour.

The model can be run in one of two ways; the first does not include money and the second uses money such that the firm and/or the household have an endowment that can be spent or saved. In either case, the household has preferences for leisure and consumption and a demand function relating sugar and price, and the firm has a production function and learns the household demand over a set number of time steps using either an endogenous or exogenous learning algorithm. The resulting equilibria, or fixed points of the system, may or may not match the classical economic equilibrium.

Patagonia PSMED is an agent-based model designed to study a simple case of Evolution of Ethnic Differentiation. It replicates how can hunter-gatherer societies evolve and built cultural identities as a consequence of the way they interacted.

The model combines the two elements of disorganization and motivation to explore their impact on teams. Effects of disorganization on team task performance (problem solving)

Simulates the construction of scientific journal publications, including authors, references, contents and peer review. Also simulates collective learning on a fitness landscape. Described in: Watts, Christopher & Nigel Gilbert (forthcoming) “Does cumulative advantage affect collective learning in science? An agent-based simulation”, Scientometrics.

Must tax-benefit policy making be limited to the ‘experts’?

An Agent-based model simulates consumer demand for Smart Metering tariffs. It utilizes the Bass Diffusion Model and Rogers´s adopter categories. Integration of empirical census microdata enables a validated socio-economic background for each consumer.

An ABM to simulate the behaviour of households within a village and observe the emerging properties of the system in terms of food security. The model quantifies food availability, access, utilisation and stability.

The model’s purpose is to provide a potential explanation for the emergence, sustenance and decline of unpopular norms based on pluralistic ignorance on a social network.

In this model, we simulate the navigation behavior of homing pigeons. Specifically we use genetic algorithms to optimize the navigation and flocking parameters of pigeon agents.

The model simulates interaction between internal physiological factors (e.g. energy balance) and external social factors (e.g. competition level) underlying feeding and social interaction behaviour of commercially group-housed pigs.