Uncertainty is an important factor that influences social evolution in natural and artificial environments. Here we distinguish between three aspects of uncertainty. Environmental uncertainty is the variance of resources in the environment, perceived uncertainty is the variance of the resource...

In recent years, a growing literature has claimed that the market microstructure is sufficient to generate the so-called stylized facts without any reference to the behaviour of market players. Indeed, qualitative stylized-facts can be generated with zero-intelligence traders (ZITs) but we...

Policy analysis and policy making are parts of the policy decision process for which working tools are needed. A Social Accounting Matrix (SAM) consistent with the national accounts is presented at the level of a country, as a possible working tool intended to support that process. Such a...

This paper will explore the effects of errors in floating point arithmetic in two published agent-based models: the first a model of land use change (Polhill et al. 2001; Gotts et al. 2003), the second a model of the stock market (LeBaron et al. 1999). The first example demonstrates how branching...

The online content market for news and music is changing rapidly with the spread of technology and innovative business models (e.g. the online delivery of music, specialised subscription news services). It is correspondingly hard for suppliers of online content to anticipate developments and the...

Some economists (Mirowski, 2002) have asserted that the neoclassical economic model was motivated by Newtonian mechanics. This viewpoint encourages confusion. Theoretical mechanics is firmly grounded in reproducible empirical observations and experiments, and provides a very accurate description...

The extend to which common-pool resources are used and managed sustainably depends highly on incentives. Incentives influence the behaviour of individuals with respect to natural resource management and are determined by institutional arrangements comprising of formal and informal rules and...

An agent-based simulation model representing a theory of the dynamic processes involved in innovation in modern knowledge-based industries is described. The agent-based approach allows the representation of heterogeneous agents that have individual and varying stocks of knowledge. The simulation...