The Price Evolution with Expectations model provides the opportunity to explore the question of non-equilibrium market dynamics, and how and under which conditions an economic system converges to the classically defined economic equilibrium. To accomplish this, we bring together two points of view of the economy; the classical perspective of general equilibrium theory and an evolutionary perspective, in which the current development of the economic system determines the possibilities for further evolution.

The Price Evolution with Expectations model consists of a representative firm producing no profit but producing a single good, which we call sugar, and a representative household which provides labour to the firm and purchases sugar.The model explores the evolutionary dynamics whereby the firm does not initially know the household demand but eventually this demand and thus the correct price for sugar given the household’s optimal labour.

The model can be run in one of two ways; the first does not include money and the second uses money such that the firm and/or the household have an endowment that can be spent or saved. In either case, the household has preferences for leisure and consumption and a demand function relating sugar and price, and the firm has a production function and learns the household demand over a set number of time steps using either an endogenous or exogenous learning algorithm. The resulting equilibria, or fixed points of the system, may or may not match the classical economic equilibrium.

The Axelrod’s model of cultural dissemination is an agent-model designed to investigate the dissemination of culture among interacting agents on a society.

Model of influence of access to social information spread via social network on decisions in a two-person game.

This model was design to test parameters that affects the number of people shot during mass shooting. This basic formulation places a gunman in a crowd and allows the users to manipulate parameters of the gunman.

On July 20th, James Holmes committed a mass shooting in a midnight showing of The Dark Knight Rises. The Aurora Colorado shooting was used as a test case to validate this framework for modeling mass shootings.

Using webs of replicas of Atwood’s Machine, we explore implications of the Maximum Power Principle. This is one of a series of models exploring the dynamics of sustainable economics – PSoup, ModEco, EiLab, OamLab, MppLab, TpLab, CmLab.

Righi S., Takacs K., Social Closure and the Evolution of Cooperation via Indirect Reciprocity, Resubmitted after Revisions to Scientific Reports

Simple population dynamics model used in Introduction to Agent-Based Modeling by Marco Janssen. For more information see https://intro2abm.com/

We build a stylized model of a network of business angel investors and start-up entrepreneurs. Decisions are based on trust as a decision making tool under true uncertainty.

The model explores the emergence of inequality in cognitive and socio-emotional skills at the societal level within and across generations that results from differences in parental investment behavior during childhood and adolescence.