Multi-Agent Systems as a Tool for Analyzing Path-Dependent Macrodynamics

Nov 5

Written By SCEPA

WORKING PAPER

(670 KB)

This paper discusses the concept of path dependence in macrodynamics, and identifies practical difficulties associated with building path-dependent macrodynamic models.

It is suggested that multi-agent systems (MAS) analysis can help address these difficulties, and therefore provides a useful tool for advancing path-dependent macrodynamic analysis. An illustrative example is provided in the form of a MAS model of path-dependent aggregate fluctuations.

working paper

SCEPA

Multi-Agent Systems as a Tool for Analyzing Path-Dependent Macrodynamics

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SCEPA is part of the Economics Department at The New School for Social Research