Neoclassical influences in agent‐based literature: A systematic review

Abstract

Several studies highlight that the method and the object of analysis of Agent‐Based models are in various respects in stark contrast to the prevailing neoclassical paradigm and therefore should be included in the traditions of alternative economic thought. In this paper, however, we show that distinctive features of the neoclassical theory can be found in most of the AB literature. Through a systematic review of most cited academic papers published in the period 1996–2019 and dedicated to Agent‐Based models, we show that a “neoclassical influence” can be detected in 61% of papers, while only 39% do not have links with the mainstream neoclassical approach. We also note that after the “great recession” started in 2008 the neoclassical influences on AB literature decline to a significant extent.

Enhancing Green Finance for Inclusive Green Growth: A Systematic Approach

“…Of the identified 727 studies (after fixing the duplication and screening issues), 146 relevant studies were acknowledged for the systematic review. Regarding the sample size, there is no minimum sample size requirement for systematic reviews [29]. Therefore, the current study's sample size of 146 studies is adequate.…”

Потребление Под Влиянием Неприятия Потерь

“…Так, например, все большее внимание стало привлекать агентское моделирование. Отдельный экономический агент, его взаимодействие с другими агентами, возникновение совокупного поведения с ответом на решения отдельных людей -все эти аспекты включены в модель ABM (англ, Agent-Based Model), которая уже использовалась в ряде исследованиях, например, в работе, где были рассмотрены макроэкономические эффекты прав интеллектуальной собственности [7].…”

Analytical political economy: Complexity, growth, international trade

“…(2022) that there is a strong intellectual and methodological affinity between Analytical Political Economy and the models, tools, and concepts in complexity theory and computational economics, Brancaccio et al. (2022) develop a quantitative analysis of the literature on one particular strand of computational economics, namely ABMs. Focusing on papers published in the last three decades, they show that a large majority of the most cited papers using ABMs are influenced by the prevailing neoclassical paradigm.…”

“…Despite their heterogeneity, we can use some broad categories to describe the surveys comprised in this special issue. Papers by Scharfenaker (2022), Cogliano et al (2022), andBrancaccio et al (2022) review recent developments in the literature on complexity theory and computational economics from the perspective of Analytical Political Economy. One of the key differences between Analytical Political Economy and neoclassical economics is the emphasis that the latter places on equilibrium states, and on the specific definitions of equilibrium adopted-usually in the Walrasian tradition.…”