In this paper I analyse the main strengths and weaknesses of agent-based computational models. I first describe how agent-based simulations can complement more traditional modelling techniques. Then, I rationalise the main theoretical critiques against the use of simulation, which point to the...

Joining the European Union club implies, among many other policy changes, full integration of Romania's economy into EU's customs union. This is expected to have significant implications for domestic farmers and food processors. The paper constructs a single-country Applied General Equilibrium...

Until nowadays, the South-Mediterranean countries have focused on their strategic choice which consists in the creation of a Euro-Mediterranean Free Trade Area (FTA). Among the first participants in the constitution of this zone, is Tunisia, which signed an agreement of association with the...

Knowledge as the basis of science has up to now only verbally defined features which are not accepted between all sciences. On the other hand knowledge must have some interoperable, physical related features since otherwise we wouldn’t be able to exchange knowledge between humans. With the...

El open source se ha convertido en una de las ideas más exitosas desde el surgimiento de Internet. En este artículo se analizan las razones de este éxito. The open source has become one of the most successful ideas from the sprouting of Internet. In this article the reasons of this success...

This paper considers the relationship between agent-based modeling and economic decision-making experiments with human subjects. Both approaches exploit controlled ``laboratory'' conditions as a means of isolating the sources of aggregate phenomena. Research findings from laboratory studies of...

There has been a lot of works on corruption cases. We must think that corruption is a cultural aspect in a social life. We cannot separate the corruption with the cultural system where the corruption raised. Indonesia has been recorded to be one of the countries of the worst economic and...

In this paper an analytical framework similar to a robust control problem was developed for the one-state, one-control variable model to examine the response of the control to changes in the “free” parameter. However, in contrast to Gonzalez and Rodriguez (2003), the sign multiplying the...

In this note a one-state, one-control variable quadratic linear problem with robust control and discount factor is developed to examine the optimal response of the first-period control to changes in future model uncertainty. A change in future model uncertainty has an effect on the optimal...

One of the major controversies in macroeconomics over the last 30 years has been that on the effectiveness of stabilization policies. However, this debate, between those who believe that this kind of policies is useless if not harmful and those who argue in favor of it, has been mainly...