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Agent-based modeling and simulation

Assignment Help Managerial Economics
Reference no: EM132146607

Simulation and Agent-Based Modeling

Schelling, T. C. (1971). Dynamic models of segregation. Journal of Mathematical Sociology, 1(2), 143-186. Seminal Retrieved from the Walden Library databases.

Discussion: Agent-Based Modeling and Simulation

For this Discussion, it is now it is your turn to find a problem within the public sector where you think agent-based modeling and simulation may be useful.

To prepare:

Review the Learning Resources for this week as they relate to simulation and agent-based modeling. Conduct an Internet search to explore software products that support agent-based modeling (keep in mind, some are free for educational purposes, so if you are really interested, you may want to consider downloading a trial version).

To better understand how inductive reasoning, and research that is based on inductive reasoning works, start by reading W. Brian Arthur's article about the El Farol Bar in Santa Fe, New Mexico:

Arthur, W. B. (1994). Inductive reasoning and bounded rationality. Amer. Econ. Review (Papers and Proceedings), 84(406).

This article walks you through inductive logic and decision making, similarly to how agents behave in agent-based modeling. Then, read Bonabeau's (2002) article on methods and techniques of ABM.

Post a problem you can envision where agent-based modeling and simulation may be useful in the public sector. Be specific in how it would be implemented and why agent-based modeling would address the issue.

Article -Agent-based modeling: Methods and techniques for simulating human systems by Eric Bonabeau

Attachment:- Articles.zip

Verified Expert

Agent based simulation model was described. Urban transportation and traffic signalling was the problem depicted after the literature review of the provided task. The main components of Agent based simulation modelling was also discussed in this task. The key features of the simulation software was also explained

Reference no: EM132146607

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