Computational Model Library

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.

CINCH1 (Covid-19 INfection Control in Hospitals)

N Gotts | Published Sun Aug 29 13:13:03 2021

CINCH1 (Covid-19 INfection Control in Hospitals), is a prototype model of physical distancing for infection control among staff in University College London Hospital during the Covid-19 pandemic, developed at the University of Leeds, School of Geography. It models the movement of collections of agents in simple spaces under conflicting motivations of reaching their destination, maintaining physical distance from each other, and walking together with a companion. The model incorporates aspects of the Capability, Opportunity and Motivation of Behaviour (COM-B) Behaviour Change Framework developed at University College London Centre for Behaviour Change, and is aimed at informing decisions about behavioural interventions in hospital and other workplace settings during this and possible future outbreaks of highly contagious diseases. CINCH1 was developed as part of the SAFER (SARS-CoV-2 Acquisition in Frontline Health Care Workers – Evaluation to Inform Response) project
(https://www.ucl.ac.uk/behaviour-change/research/safer-sars-cov-2-acquisition-frontline-health-care-workers-evaluation-inform-response), funded by the UK Medical Research Council. It is written in Python 3.8, and built upon Mesa version 0.8.7 (copyright 2020 Project Mesa Team).

The purpose of this model is to understand the role of trade networks and their interaction with different fish resources, for fish provision. The model is developed based on a multi-methods approach, combining agent-based modeling, network analysis and qualitative data based on a small-scale fisheries study case. The model can be used to investigate both how trade network structures are embedded in a social-ecological context and the trade processes that occur within them, to analyze how they lead to emergent outcomes related to the resilience of fish provision. The model processes are informed by qualitative data analysis, and the social network analysis of an empirical fish trade network. The network analysis can be used to investigate diverse network structures to perform model experiments, and their influence on model outcomes.

The main outcomes we study are 1) the overexploitation of fish resources and 2) the availability and variability of fish provision to satisfy different market demands, and 3) individual traders’ fish supply at the micro-level. The model has two types of trader agents, seller and dealer. The model reveals that the characteristics of the trade networks, linked to different trader types (that have different roles in those networks), can affect the resilience of fish provision.

The SMASH model is an agent-based model of rural smallholder households. It models households’ evolving income and wealth, which they earn through crop sales. Wealth is carried in the form of livestock, which are grazed on an external rangeland (exogenous) and can be bought/sold as investment/coping mechanisms. The model includes a stylized representation of soil nutrient dynamics, modeling the inflows and outflows of organic and inorganic nitrogen from each household’s field.

The model has been applied to assess the resilience-enhancing effects of two different farm-level adaptation strategies: legume cover cropping and crop insurance. These two strategies interact with the model through different mechanims - legume cover cropping through ecological mechanisms and crop insurance through financial mechanisms. The model can be used to investigate the short- and long-term effects of these strategies, as well as how they may differently benefit different types of household.

Peer reviewed A Macroeconomic Model of a Closed Economy

Ian Stuart | Published Sat May 8 15:22:16 2021 | Last modified Wed Jun 23 14:33:37 2021

This model/program presents a “three industry model” that may be particularly useful for macroeconomic simulations. The main purpose of this program is to demonstrate a mechanism in which the relative share of labor shifts between industries.

Care has been taken so that it is written in a self-documenting way so that it may be useful to anyone that might build from it or use it as an example.

This model is not intended to match a specific economy (and is not calibrated to do so) but its particular minimalist implementation may be useful for future research/development.

This model is based on the Narragansett Bay, RI recreational fishery. The two types of agents are piscivorous fish and fishers (shore and boat fishers are separate “breeds”). Each time step represents one week. Open season is weeks 1-26, assuming fishing occurs during half the year. At each weekly time step, fish agents grow, reproduce, and die. Fisher agents decide whether or not to fish based on their current satisfaction level, and those that do go fishing attempt to catch a fish. If they are successful, they decide whether to keep or release the fish. In our publication, this model was linked to an Ecopath with Ecosim food web model where the commercial harvest of forage fish affected the biomass of piscivorous fish - which then became the starting number of piscivorous fish for this ABM. The number of fish caught in a season of this ABM was converted to a fishing pressure and input back into the food web model.

AgentEx aims to advance understanding of group processes for sustainable management of a common pool resource (CPR). By supporting the development and test explanations of cooperation and sustainable exploitation.

Team Cognition

Iris Lorscheid | Published Sun May 23 14:25:17 2021

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.

Knowledge Based Economy (KBE) is an artificial economy where firms placed in geographical space develop original knowledge, imitate one another and eventually recombine pieces of knowledge. In KBE, consumer value arises from the capability of certain pieces of knowledge to bridge between existing items (e.g., Steve Jobs illustrated the first smartphone explaining that you could make a call with it, but also listen to music and navigate the Internet). Since KBE includes a mechanism for the generation of value, it works without utility functions and does not need to model market exchanges.

The impacts of income inequality can be seen everywhere, regardless of the country or the level of economic development. According to the literature review, income inequality has negative impacts in economic, social, and political variables. Notwithstanding of how well or not countries have done in reducing income inequality, none have been able to reduce it to a Gini Coefficient level of 0.2 or less.
This is the promise that a novel approach called Counterbalance Economics (CBE) provides without the need of increased taxes.
Based on the simulation, introducing the CBE into the Australian, UK, US, Swiss or German economies would result in an overall GDP increase of under 1% however, the level of inequality would be reduced from an average of 0.33 down to an average of 0.08. A detailed explanation of how to use the model, software, and data dependencies along with all other requirements have been included as part of the info tab in the model.

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