Agent-Based Models in Development Economics

16 Pages Posted: 19 Feb 2014 Last revised: 26 May 2015

See all articles by Florian Chávez-Juárez

Florian Chávez-Juárez

Centro de Investigacion y Docencia Economicas

Date Written: May 25, 2015

Abstract

In this article I discuss the potential role of agent-based modeling techniques in development economics. Development economics has recently seen a strong rise of experimental evidence from the field and the laboratory. At the same time, there is a debate on how theory should adapt to this new approach and its findings. I argue in this paper that the agent-based modeling approach is a promising complement to the traditional modeling techniques, as it can easily incorporate the non-standard findings of the experimental literature. Moreover, I emphasize the opportunity of a mutually beneficial interplay between experiment based empirical research and agent-based models.

Keywords: development economics, agent-based modeling techniques, randomized field trials, experiments, behavioral economics, poverty reduction

JEL Classification: B40, C63, C93, I30, I38, O12, O22

Suggested Citation

Wendelspiess Chávez Juárez, Florian, Agent-Based Models in Development Economics (May 25, 2015). Available at SSRN: https://ssrn.com/abstract=2397252 or http://dx.doi.org/10.2139/ssrn.2397252

Florian Wendelspiess Chávez Juárez (Contact Author)

Centro de Investigacion y Docencia Economicas ( email )

Carretera Mexico-Toluca 3655
Lomas de Santa Fe
Mexico City, 01210
Mexico

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
236
Abstract Views
1,611
Rank
230,665
PlumX Metrics