Computational Model Library

06b EiLab_Model_I_V5.00 NL

Garvin Boyle | Published Sat Oct 5 08:27:46 2019

EiLab - Model I - is a capital exchange model. That is a type of economic model used to study the dynamics of modern money which, strangely, is very similar to the dynamics of energetic systems. It is a variation on the BDY models first described in the paper by Dragulescu and Yakovenko, published in 2000, entitled “Statistical Mechanics of Money”. This model demonstrates the ability of capital exchange models to produce a distribution of wealth that does not have a preponderance of poor agents and a small number of exceedingly wealthy agents.

This is a re-implementation of a model first built in the C++ application called Entropic Index Laboratory, or EiLab. The first eight models in that application were labeled A through H, and are the BDY models. The BDY models all have a single constraint - a limit on how poor agents can be. That is to say that the wealth distribution is bounded on the left. This ninth model is a variation on the BDY models that has an added constraint that limits how wealthy an agent can be? It is bounded on both the left and right.

EiLab demonstrates the inevitable role of entropy in such capital exchange models, and can be used to examine the connections between changing entropy and changes in wealth distributions at a very minute level.

An Agent-based model of the economy with consumer credit

Paola D'Orazio Gianfranco Giulioni | Published Fri Apr 15 22:27:04 2016 | Last modified Thu Mar 7 10:24:50 2019

The model was built to study the links between consumer credit, wealth distribution and aggregate demand in a complex macroeconomics system.

Peer reviewed Emergent Firms Model

J Applegate | Published Fri Jul 13 15:04:37 2018

The Emergent Firm (EF) model is based on the premise that firms arise out of individuals choosing to work together to advantage themselves of the benefits of returns-to-scale and coordination. The Emergent Firm (EF) model is a new implementation and extension of Rob Axtell’s Endogenous Dynamics of Multi-Agent Firms model. Like the Axtell model, the EF model describes how economies, composed of firms, form and evolve out of the utility maximizing activity on the part of individual agents. The EF model includes a cash-in-advance constraint on agents changing employment, as well as a universal credit-creating lender to explore how costs and access to capital affect the emergent economy and its macroeconomic characteristics such as firm size distributions, wealth, debt, wages and productivity.


Romulus-Catalin Damaceanu | Published Fri May 4 06:29:21 2012 | Last modified Sat Apr 27 20:18:45 2013

An algorithm implemented in NetLogo that can be used for searching resources.

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