Florian W. Chávez Juárez - Economics - Papers


Florian Wendelspiess Chávez Juárez



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On the Role of Agent-based Modeling in the Theory of Development Economics, Review of Development Economics, Early view online 5/2016. Status: Published

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.

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