There is a new type of economic model called a capital exchange model, in which the biophysical economy is abstracted away, and the interaction of units of money is studied. Benatti, Drăgulescu and Yakovenko described at least eight capital exchange models – now referred to collectively as the BDY models – which are replicated as models A through H in EiLab. In recent writings, Yakovenko goes on to show that the entropy of these monetarily isolated systems rises to a maximal possible value as the model approaches steady state, and remains there, in analogy of the 2nd law of thermodynamics. EiLab demonstrates this behaviour. However, it must be noted that we are NOT talking about thermodynamic entropy. Heat is not being modeled – only simple exchanges of cash. But the same statistical formulae apply.

In three unpublished papers and a collection of diary notes and conference presentations (all available with this model), the concept of “entropic index” is defined for use in agent-based models (ABMs), with a particular interest in sustainable economics. Models I and J of EiLab are variations of the BDY model especially designed to study the Maximum Entropy Principle (MEP – model I) and the Maximum Entropy Production Principle (MEPP – model J) in ABMs. Both the MEPP and H.T. Odum’s Maximum Power Principle (MPP) have been proposed as organizing principles for complex adaptive systems. The MEPP and the MPP are two sides of the same coin, and an understanding of their implications is key, I believe, to understanding economic sustainability. Both of these proposed (and not widely accepted) principles describe the role of entropy in non-isolated systems in which complexity is generated and flourishes, such as ecosystems, and economies.

EiLab is one of several models exploring the dynamics of sustainable economics – PSoup, ModEco, EiLab, OamLab, MppLab, TpLab, and CmLab.

What is it?

This model demonstrates a very simple bidding market where buyers try to acquire a desired item at the best price in a competitive environment

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An agent-based model of echo chamber formation employing a Bayesian Source Credibility cognitive architecture limiting interactions to a single cascade.

The agent-based simulation of land-use governance (ABSOLUG) is a NetLogo model designed to explore the interactions between stakeholders and the impact of multi-stakeholder governance approaches on tropical deforestation. The purpose of ABSOLUG is to advance our understanding of land use governance, identify macro-level patterns of interaction among governments, commodity producers, and NGOs in tropical deforestation frontiers, and to set a foundation for generating middle-range theories for multi-stakeholder governance approaches. The model represents a simplified, generic, tropical commodity production system, as opposed to a specific empirical case, and as such aims to generate interpretable macro-level patterns that are based on plausible, micro-level behavioral rules. It is designed for scientists interested in land use governance of tropical commodity production systems, and for decision- and policy-makers seeking to develop or enhance governance schemes in multi-stakeholder commodity systems.

This model looks at implications of author/referee interaction for quality and efficiency of peer review. It allows to investigate the importance of various reciprocity motives to ensure cooperation. Peer review is modelled as a process based on knowledge asymmetries and subject to evaluation bias. The model includes various simulation scenarios to test different interaction conditions and author and referee behaviour and various indexes that measure quality and efficiency of evaluation […]

This model is an extended version of the original MERCURY model (https://www.comses.net/codebases/4347/releases/1.1.0/ ) . It allows for experiments to be performed in which empirically informed population sizes of sites are included, that allow for the scaling of the number of tableware traders with the population of settlements, and for hypothesised production centres of four tablewares to be used in experiments.

Experiments performed with this population extension and substantive interpretations derived from them are published in:

Hanson, J.W. & T. Brughmans. In press. Settlement scale and economic networks in the Roman Empire, in T. Brughmans & A.I. Wilson (ed.) Simulating Roman Economies. Theories, Methods and Computational Models. Oxford: Oxford University Press.

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The targeted subsidies plan model is based on the economic concept of targeted subsidies.

The targeted subsidies plan model simulates the distribution of subsidies among households in a community over several years. The model assumes that the government allocates a fixed amount of money each year for the purpose of distributing cash subsidies to eligible households. The eligible households are identified by dividing families into 10 groups based on their income, property, and wealth. The subsidy is distributed to the first four groups, with the first group receiving the highest subsidy amount. The model simulates the impact of the subsidy distribution process on the income and property of households in the community over time.

The model simulates a community of 230 households, each with a household income and wealth that follows a power-law distribution. The number of household members is modeled by a normal distribution. The model allocates a fixed amount of money each year for the purpose of distributing cash subsidies among eligible households. The eligible households are identified by dividing families into 10 groups based on their income, property, and wealth. The subsidy is distributed to the first four groups, with the first group receiving the highest subsidy amount.
The model runs for a period of 10 years, with the subsidy distribution process occurring every month. The subsidy received by each household is assumed to be spent, and a small portion may be saved and added to the household’s property. At the end of each year, the grouping of households based on income and assets is redone, and a number of families may be moved from one group to another based on changes in their income and property.
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The Garbage Can Model of Organizational Choice (GCM) is a fundamental model of organizational decision-making originally propossed by J.D. Cohen, J.G. March and J.P. Olsen in 1972. In their model, decisions are made out of random meetings of decision-makers, opportunities, solutions and problems within an organization.
With this model, these very same agents are supposed to meet in society at large where they make decisions according to GCM rules. Furthermore, under certain additional conditions decision-makers, opportunities, solutions and problems form stable organizations. In this artificial ecology organizations are born, grow and eventually vanish with time.

The largely dominant meritocratic paradigm of highly competitive Western cultures is rooted on the belief that success is due mainly, if not exclusively, to personal qualities such as talent, intelligence, skills, smartness, efforts, willfulness, hard work or risk taking. Sometimes, we are willing to admit that a certain degree of luck could also play a role in achieving significant material success. But, as a matter of fact, it is rather common to underestimate the importance of external forces in individual successful stories. It is very well known that intelligence (or, more in general, talent and personal qualities) exhibits a Gaussian distribution among the population, whereas the distribution of wealth - often considered a proxy of success - follows typically a power law (Pareto law), with a large majority of poor people and a very small number of billionaires. Such a discrepancy between a Normal distribution of inputs, with a typical scale (the average talent or intelligence), and the scale invariant distribution of outputs, suggests that some hidden ingredient is at work behind the scenes. In a recent paper, with the help of this very simple agent-based model realized with NetLogo, we suggest that such an ingredient is just randomness. In particular, we show that, if it is true that some degree of talent is necessary to be successful in life, almost never the most talented people reach the highest peaks of success, being overtaken by mediocre but sensibly luckier individuals. As to our knowledge, this counterintuitive result - although implicitly suggested between the lines in a vast literature - is quantified here for the first time. It sheds new light on the effectiveness of assessing merit on the basis of the reached level of success and underlines the risks of distributing excessive honors or resources to people who, at the end of the day, could have been simply luckier than others. With the help of this model, several policy hypotheses are also addressed and compared to show the most efficient strategies for public funding of research in order to improve meritocracy, diversity and innovation.

The model that simulates the dynamic creation and maintenance of knowledge-based formations such as communities of scientists, fashion movements, and subcultures. The model’s environment is a spatial one, representing not geographical space, but a “knowledge space” in which each point is a different collection of knowledge elements. Agents moving through this space represent people’s differing and changing knowledge and beliefs. The agents have only very simple behaviors: If they are “lonely,” that is, far from a local concentration of agents, they move toward the crowd; if they are crowded, they move away.

Running the model shows that the initial uniform random distribution of agents separates into “clumps,” in which some agents are central and others are distributed around them. The central agents are crowded, and so move. In doing so, they shift the centroid of the clump slightly and may make other agents either crowded or lonely, and they too will move. Thus, the clump of agents, although remaining together for long durations (as measured in time steps), drifts across the view. Lonely agents move toward the clump, sometimes joining it and sometimes continuing to trail behind it. The clumps never merge.

The model is written in NetLogo (v6). It is used as a demonstration of agent-based modelling in Gilbert, N. (2008) Agent-Based Models (Quantitative Applications in the Social Sciences). Sage Publications, Inc. and described in detail in Gilbert, N. (2007) “A generic model of collectivities,” Cybernetics and Systems. European Meeting on Cybernetic Science and Systems Research, 38(7), pp. 695–706.