Agent-based Modelling in Economics: a book by Lynne Hamill and Nigel Gilbert

After four years in preparation, our book, Agent-based Modelling in Economics, was published in January. The book takes a selection of themes that are typically covered in undergraduate economics textbooks, such as consumer choice, markets and banking, together with current policy themes such as unemployment, exchange rates and environmental issues. It demonstrates how agent-based modelling can easily handle heterogeneous people, households and firms interacting dynamically. Unlike traditional approaches, the models do not require agents to optimise or economic systems to reach equilibrium.

With 19 models in the book, it will only be possible to give a brief overview of the contents. But I’ll also talk about why we decided to write this book and why we did it the way we did and the problems we had. So the talk will be as much about writing a book, especially a book about modelling, as about economic modelling.

More about the book can be found here:

Thursday, 18 February, 2016 - 12:30 to 14:00
Lynne Hamill
Presenter(s) biography: 

Lynne Hamill was in the UK Government Economic Service for 16 years. After moving to the University of Surrey, she earned her PhD at CRESS and is now a Visiting Fellow there.