Computational Model Library

An economic agent-based model of Coupled Housing and Land Markets (CHALMS) simulates the location choices, insurance purchasing decisions, and risk perceptions of coastal residents, and how coastal risks are capitalized (or not) into coastal housing and land markets.

RHEA aims to provide a methodological platform to simulate the aggregated impact of households’ residential location choice and dynamic risk perceptions in response to flooding on urban land markets. It integrates adaptive behaviour into the spatial landscape using behavioural theories and empirical data sources. The platform can be used to assess: how changes in households’ preferences or risk perceptions capitalize in property values, how price dynamics in the housing market affect spatial demographics in hazard-prone urban areas, how structural non-marginal shifts in land markets emerge from the bottom up, and how economic land use systems react to climate change. RHEA allows direct modelling of interactions of many heterogeneous agents in a land market over a heterogeneous spatial landscape. As other ABMs of markets it helps to understand how aggregated patterns and economic indices result from many individual interactions of economic agents.
The model could be used by scientists to explore the impact of climate change and increased flood risk on urban resilience, and the effect of various behavioural assumptions on the choices that people make in response to flood risk. It can be used by policy-makers to explore the aggregated impact of climate adaptation policies aimed at minimizing flood damages and the social costs of flood risk.

The model represents empirically observed recycling behaviour of Chinese citizens, based on the theory of reasoned action (TRA), the theory of planned behaviour (TPB) and the theory of planned behaviour extended with situational factors (TPB+).

Next generation of the CHALMS model applied to a coastal setting to investigate the effects of subjective risk perception and salience decision-making on adaptive behavior by residents.

Endogenous Dynamics of Housing Market Cycles

Birnur Özbaş Onur Özgün Yaman Barlas | Published Mon Sep 9 16:11:20 2013 | Last modified Wed Jan 8 16:24:39 2014

The purpose of this model is to analyze the dynamics of endogenously created oscillations in housing prices using a system dynamics simulation model, built from the perspective of construction companies.

Coupled Housing and Land Markets (CHALMS)

Nicholas Magliocca Virginia Mcconnell Margaret Walls | Published Fri Nov 2 20:20:30 2012 | Last modified Mon Oct 27 16:23:37 2014

CHALMS simulates housing and land market interactions between housing consumers, developers, and farmers in a growing ex-urban area.

Income and Expenditure

Tony Lawson | Published Thu Oct 6 13:52:24 2011 | Last modified Sat Apr 27 20:18:34 2013

How do households alter their spending patterns when they experience changes in income? This model answers this question using a random assignment scheme where spending patterns are copied from a household in the new income bracket.

ABODE - Agent Based Model of Origin Destination Estimation

D Levinson | Published Mon Aug 29 18:01:08 2011 | Last modified Sat Apr 27 20:18:19 2013

The agent based model matches origins and destinations using employment search methods at the individual level.

An Agent-Based Model of Flood Risk and Insurance

J Dubbelboer I Nikolic K Jenkins J Hall | Published Mon Jul 27 14:30:01 2015 | Last modified Mon Oct 3 10:28:25 2016

A model to show the effects of flood risk on a housing market; the role of flood protection for risk reduction; the working of the existing public-private flood insurance partnership in the UK, and the proposed scheme ‘Flood Re’.

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