Agent-based modeling, public choice, and the legacy of Gordon Tullock

Authored by Richard Wallick

Date Published: 2012-07

DOI: 10.1007/s11127-011-9887-7

Sponsors: No sponsors listed

Platforms: Python

Model Documentation: Other Narrative

Model Code URLs: http://link.springer.com.ezproxy1.lib.asu.edu/article/10.1007%2Fs11127-011-9887-7

Abstract

The future of modeling in public choice may be glimpsed by examining its evolution in economics. For problems that are influenced by heterogeneity of actors, social networks, or -the arising of a complex system from simple phenomena, such as Adam Smith's “invisible hand”aEuro”economists increasingly are turning to agent-based modeling. Agent-based modeling is a form of computational analysis that focuses on agents rather than on aggregates. In his long career as a founding scholar of public choice, Gordon Tullock repeatedly followed the agent-oriented approach of methodological individualism. Many of Tullock's models are thus highly amenable to further exploration using that method. As agent-based modeling becomes more and more popular, the importance of Tullock's work will continue to grow.

Tags

Agent-based modeling emergence Heterogeneity