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.

Simulation to replicate and extend an analytical model (Konrad & Skaperdas, 2010) of the provision of security as a collective good. We simulate bandits preying upon peasants in an anarchy condition.

A haystack-style model of group selection to capture the essential features of colony foundation for queens of the ant based on observation of the ant Pogonomyrmex californicus.

A hybrid predator-prey model of fish and plankton that switches dynamically between ABM and SD representations. It contains 6 related structural designs of the same model.

The teamCognition model investigates team decision processes by using an agent-based model to conceptualize team decisions as an emergent property. It uses a mixed-method research design with a laboratory experiment providing qualitative and quantitative input for the model’s construction, as well as data for an output validation of the model. The agent-based model is used as a computational testbed to contrast several processes of team decision making, representing potential, simplified mechanisms of how a team decision emerges. The increasing overall fit of the simulation and empirical results indicates that the modeled decision processes can at least partly explain the observed team decisions.

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

One of four extensions to the standard Adder model that replicates a common type of transition experiment.

This is one of four extensions to the standard Adder model that replicate the various interventions typical of transition experiments.

One of four extensions to the standard Adder model that replicates the various interventions typically associated with transition experiments.

The fourth and final extension to the standard Adder model to replicate the various interventions typically associated with Transition Experiments.