Project

“Live agentbased models and the theory of adaptive multitype and multilayer networks to study economic complexity and financial instability”

Duration
01 October 2014 → 30 September 2021
Funding
Regional and community funding: Special Research Fund
Research disciplines
  • Social sciences
    • Applied economics
    • Economic history
    • Macroeconomics and monetary economics
    • Microeconomics
    • Tourism
Keywords
economic complexity
 
Project description

The objective of this work package is to develop and experiment with an entirely new method of

conducting economic research by exploiting the data provided by real actions and interactions of

individuals that play massive multiplayer online games (MMOG). In MMOG real heterogenous

individuals of around the world interact in real time in what could be labelled as a frontier universe. These

agents have real monetary and nonmonetary

incentives and are subject to reallife

imperfections

(information asymmetries, transaction costs, uncertainty), behavioral biases [Tversky and Kahneman,

1979], and social norms [Ostrom, 2000]. One of the key goals of the proposed LABM

approach is to

collect data on a plethora of network modalities (production, trade, violence, alliance) so that their

dynamic properties and interrelations can be better understood.