MinSim

This page will detail work done in Agent-Based simulation of a minimal economy (MinSim) at Princeton University and links to research being done elsewhere.

This page will be under constant construction during the Fall 2008-2009 term. Please come back soon for updates.

Research

• Work by Steiglitz
• Work by Tesfatsion

Links to Chris Chan's papers on MinSim:

• Part One
• Part Two

Papers on Economic Agent-Based simulation

Using MinSim

Meeting Agendas/Tasks for Next Meeting

09/29/08 For next week:

• Look up information on Aspen project/failure(?) (starting point: Aspen)
• Look at Chris's software and start trying to see if real-life economic problems are reproduced in the simulation
• Examples:
  • Tariffs, international trade
  • Specialization of labor, Adam Smith
  • Maximizing revenue of entrepreneurs vs total country revenue
  • Inflation, Stagflation, Phillips curve
  • Compare the stability of a central banking system with that of the gold standard
  • Evaluate the "bailout"
• Post summaries of articles up on the wiki
  • Sign up for the wiki
  • Edit the section "Papers on economic Agent-Based simulation"

Extension:

• Look at the household model and formulate ways to improve Chris's model

10/06/08

• Went over code
• Why don't prices stabilize on its own?
• Broad objectives?
• Figure out where supply/demand is in the code
• use this to see if the simulation satisfies the properties of supply/demand
• Play with parameters- More stability with more workers, etc? (keep in mind that this slows down the program)
• Brainstorm things we can look at in the future
• Interest rates?
• Meet separately Wednesday (4:30, Friend library) to look over code
• Start looking into old intro micro/macro books