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Discontinuity, Nonlinearity, and Complexity

Dimitry Volchenkov (editor), Dumitru Baleanu (editor)

Dimitry Volchenkov(editor)

Mathematics & Statistics, Texas Tech University, 1108 Memorial Circle, Lubbock, TX 79409, USA


Dumitru Baleanu (editor)

Cankaya University, Ankara, Turkey; Institute of Space Sciences, Magurele-Bucharest, Romania


Standardization of Agent-based Modeling in Economic System

Discontinuity, Nonlinearity, and Complexity 3(3) (2014) 293--302 | DOI:10.5890/DNC.2014.09.006

Xihao Li

Department of Economics and Social Sciences (DiSES), Universit`a Politecnica delle Marche, Piazzale Martelli 8, 60121 Ancona, Italy

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This work combines generic complexity of economic system and economic agents with methodologies of multi-agent system analysis and development. This combination results in an integrative framework that serves as communication protocol for delivering and transmitting agent-based model for economic system. The integrative framework provides guidance for analyzing economic system in micro-level, which embeds with properties of complexity in structure, heterogeneity in agents’ beliefs, and interactions among agents’ behaviors. It provides routines on developing standardized agent-based model for economic system that can be used and reused among interdisciplinary research.


The author acknowledges the financial support from the European Community Seventh Framework Programme (FP7/2007-2013) under Socio-economic Sciences and Humanities, grant agreement no. 255987 (FOC-II). The author would like to thank Mauro Gallegati and Leigh Tesfatsion for useful comments and feedbacks. Last but not the least, the author would like to thank Cathy Du, Gaia Li, and Sofia Li for invaluable support.


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