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Simulating the Fractional Reserve Banking using Agent-based Modelling with NetLogo

Dagmar Monett, Jesus Emeterio Navarro-Barrientos
2016 Proceedings of the 2016 Federated Conference on Computer Science and Information Systems  
Index Terms-agent-based model, agent-based simulation, BDI agents, fractional reserve banking, NetLogo.  ...  This work presents a multi-agent-based computational model of an artificial fractional reserve banking system. The model is implemented in NetLogo.  ...  AN AGENT-BASED COMPUTATIONAL MODEL FOR FRACTIONAL RESERVE BANKING A computational model that describes an FRB system using ABM was introduced in a previous work [10] .  ... 
doi:10.15439/2016f373 dblp:conf/fedcsis/MonettN16 fatcat:llxpklohuffjjokum4mib53f3e

It's not the 'what', but the 'how': Exploring the role of debt in natural resource (un)sustainability

Julen Gonzalez-Redin, J. Gareth Polhill, Terence P. Dawson, Rosemary Hill, Iain J. Gordon, María Carmen Díaz Roldán
2018 PLoS ONE  
calibration The model simulates two scenarios; namely fractional-reserve and full-reserve banking systems.  ...  Among the scenarios modelled, the results from the fractional-reserve system (with no government intervention) were used for the calibration process.  ... 
doi:10.1371/journal.pone.0201141 pmid:30028881 pmcid:PMC6054380 fatcat:nsn4phviwjd33pjpnhwqsjwlra

Economic crisis impact on low carbon transition in economy-ecosystem

Che Jiang, Xifeng Wu, Sijia Zhao, Hatef Madani, Yu Chen
2020 Global Transitions Proceedings  
, was established based on an agent-based modeling approach.  ...  Simulation results show that high carbon energy is more resistant to economic crisis than low carbon energy.  ...  Results and Discussion The model is based on Netlogo simulation platform [25] .  ... 
doi:10.1016/j.gltp.2020.03.003 fatcat:j7xogatpe5f55ip2z4im2ye46m

Consumption & class in evolutionary macroeconomics

Bernhard Rengs, Manuel Scholz-Wäckerle
2018 Journal of evolutionary economics  
This article contributes to the field of evolutionary macroeconomics by highlighting the dynamic interlinkages between micro-meso-macro with a Veblenian meso foundation in an agent-based macroeconomic  ...  In particular, we test the macroeconomic effects of this meso foundation in a generic agent-based model of a closed artificial economy.  ...  Acknowledgements The authors would like to thank Hardy Hanappi for his influence on first versions of this model.  ... 
doi:10.1007/s00191-018-0592-2 fatcat:vcld6mbbxrgrzaafsihvyk5ddi

Simulation-Assisted Learning about a Complex Economic System: Impact on Low- and High-Achieving Students

Jingyuan Fu, Meng Sun, Minhong Wang
2022 Sustainability  
To address the gap, we conducted this study with university students who participated in simulation-assisted learning about the economy as a complex system.  ...  In addition to developing systems thinking skills, there is a need to help students to improve the construction of their subject knowledge when learning with computer simulations.  ...  Acknowledgments: The authors thank Haijing Jiang for his valuable support for this study. Conflicts of Interest: The authors declare no conflict of interest.  ... 
doi:10.3390/su14106036 fatcat:fozw76vt4jdfznwgrwue7w4p2i

Agent-Based Simulation of West Asian Urban Dynamics: Impact of Refugees

Ali Termos, Stefano Picascia, Neil Yorke-Smith
2021 Journal of Artificial Societies and Social Simulation  
Simulation Model . Our agent-based model simulates urban dynamics at the level of an entire city.  ...  We do however follow these precedents and implement our ABM in the agent-based simulation platform NetLogo (Wilensky ). .  ...  Agent-based modelling and simulation is regarded as an ideal tool for understanding complex socio-technical systems such as cities (North & Macal ) .  ... 
doi:10.18564/jasss.4472 fatcat:edynj4h355hcvdqcjju4sneuxa

Macroeconomic Policy in DSGE and Agent-Based Models Redux: New Developments and Challenges Ahead

Giorgio Fagiolo, Andrea Roventini
2017 Journal of Artificial Societies and Social Simulation  
on the DSGE model.  ...  This is indeed the methodological core of agent-based computational economics (ACE), which is presented in this paper.  ...  Among an increasing number of languages and platforms for ABM one can consider NetLogo (https://, LSD (, JAS-mine (http://  ... 
doi:10.18564/jasss.3280 fatcat:fodqybmph5gofkvscuw6qe2ete

The landscape epidemiology of foot-and-mouth disease in South Africa: A spatially explicit multi-agent simulation

Elise Dion, Louis VanSchalkwyk, Eric F. Lambin
2011 Ecological Modelling  
The model represents the three main elements associated with epidemics -populations, space, and time -to simulate direct contacts between wildlife and livestock.  ...  A multi-agent simulation was developed to represent the spatial and temporal dynamics of pathogens between human-livestock and wildlife interfaces at the fringe of large wildlife conservation areas.  ...  We thank the reviewers for their useful comments.  ... 
doi:10.1016/j.ecolmodel.2011.03.026 fatcat:kwakyfdzpvgavfwmz7snolrw2y

Multi-Model Ecologies For Addressing Multi-Scale, Multi-Perspective Policy Problems

L.A. Bollinger
2013 ECMS 2013 Proceedings edited by: Webjorn Rekdalsbakken, Robin T. Bye, Houxiang Zhang  
At the core of this approach is the notion of a multi-model ecology -an interacting and constantly evolving system of models, datasets, interfaces and humans tasked with enhancing the ability of decision  ...  We introduce an approach for dealing with the inherent complexity of such problems.  ...  ACKNOWLEDGEMENTS This work is supported by the Knowledge for Climate program, project INCAH Infrastructure Networks Climate Adaptation and Hotspots.  ... 
doi:10.7148/2013-0681 dblp:conf/ecms/Bollinger13 fatcat:s3ibhy2ztfg65ihjlsyip6g3be

Macroeconomic Policy in DSGE and Agent-Based Models Redux: New Developments and Challenges Ahead

Giorgio Fagiolo
2016 Social Science Research Network  
on the DSGE model.  ...  This is indeed the methodological core of agent-based computational economics (ACE), which is presented in this paper.  ...  Simulations show that the Central Bank learns to sustain an equilibrium with a positive, but fluctuating fraction of "believers" and that this outcome is Pareto superior to the equilibrium determined by  ... 
doi:10.2139/ssrn.2763735 fatcat:cabqbns6qjcjlks5jx4p77qo3i

A distributed simulation methodological framework for OR/MS applications

Anastasia Anagnostou, Simon J.E. Taylor
2017 Simulation modelling practice and theory  
Distributed Simulation (DS) allows existing models to be composed together to form simulations of large-scale systems, or large models to be divided into models that execute on separate computers.  ...  Among its claimed benefits are model reuse, speedup, data privacy and data consistency. DS is arguably widely used in the defence sector.  ...  more recently, Agent-Based Simulation (ABS).  ... 
doi:10.1016/j.simpat.2016.10.007 fatcat:2ep34itgyfcoxosjzjuabeb3wi

Job Placement Agencies in an Artificial Labor Market

Marcin Wozniak
2016 Economics : the Open-Access, Open-Assessment e-Journal  
In this paper, an agent-based search and matching (ABSAM) model of a local labor market with heterogeneous agents and an on-the-job search is developed, i.e. job seekers who vary in unemployment duration  ...  To study the impact of parameters on model output, two global sensitivity analysis methods were used, i.e. Morris screening and Sobol indices.  ...  The NetLogo environment was used to develop the model; the R programming language with suitable packages was used for simulation analysis (RNetLogo, NetLogo-R, lhs and sensitivity).  ... 
doi:10.5018/economics-ejournal.ja.2016-29 fatcat:iz33bl5gxfagvktourbqpq4w3i

Correlated disasters and need-based transfers: The limits of risk pooling systems in simulated ecologies [article]

Marco Campenni, Lee Cronk, Athena Aktipis
2017 bioRxiv   pre-print
using an agent-based model of the need-based transfer system of the Maasai.  ...  Here we investigate the limits of two resource transfer systems for pooling risk (need-based transfers, NBT, and debt-based transfers, DBT) in simulated ecologies with different degrees of correlated disasters  ...  METHODS Model We used NetLogo (35) to model a population of agents in networks with varying topologies (Fig. 1 ).  ... 
doi:10.1101/230607 fatcat:7v3e4vnczfcgdo6iubpaphlbtu

Residential income segregation: A behavioral model of the housing market [article]

Marco Pangallo, Jean Pierre Nadal, Annick Vignes
2018 arXiv   pre-print
We represent the functioning of the housing market and study the relation between income segregation, income inequality and house prices by introducing a spatial Agent-Based Model (ABM).  ...  Buyers who differ by income select among heterogeneous neighborhoods using a probabilistic model of residential choice; sellers employ an aspiration level heuristic to set their reservation offer price  ...  A ODD+D description of the Agent-Based Model Having a standard for describing Agent-Based Models (ABMs) makes comparisons across ABMs easier and helps researchers describe their models more clearly.  ... 
arXiv:1606.00424v3 fatcat:gofks5vs3nfvndhmo7zuzwcwv4

Wage Inequality, Labor Market Polarization and Skill-Biased Technological Change: An Evolutionary (Agent-Based) Approach

Patrick Mellacher, Timon Scheuer
2020 Computational Economics  
as from agent based models (see Sect. 5.1).  ...  We replicate the core model of the well-tested Keynes + Schumpeter agent-based model family, which features an endogenous innovation process in the evolutionary tradition based on invention and imitation  ...  We also thank the participants of the Graz Schumpeter Summer School 2018, the PhD colloquium of the Social Simulation Conference 2018 and the Doctoral School Economics of the University of Graz for their  ... 
doi:10.1007/s10614-020-10026-0 fatcat:5ay2yrsp5vcqbknxocj6nbtyeq
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