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Extra info for Agent-Based Computational Modelling: Applications in Demography, Social, Economic and Environmental Sciences (Contributions to Economics)
This way, the firm’s competitiveness is an endogenous result of the quasi-random search process of the agents. The Founding Threshold The heterogeneous oligopoly only serves as a selection criterion to generate the necessary data which influences micro behaviour. The module is interchangeable. The continuously produced data is fed via the so-called founding threshold into the decision-making process of the agents. g. number of entry and exits). Thus, the focus on micro behaviour is guaranteed and the model is kept parsimonious and simple.
Actors Actors are boundedly rational. Their current individual state is the result of an ongoing path-dependent, cumulative and irreversible process. Their knowl5 An example of a routine applied by agents in the innovation process is: Invest x percent of the turnover of the previous period in R&D. 28 Andreas Pyka and Thomas Grebel edge, their capabilities and their resources are the result of a congenitally determined learning and decision-making process. On these grounds, actors will make future decisions.
453455. 11. Evans, E. S. and Jovanovic, B. (1989) An estimated model entrepreneurial choice under liquidity constraints. Journal of Political Economy (97), 808-827. 12. Gilbert, N. and Troitzsch, K. (1999) Simulation for the Social Scientist. Open University Press, Milton Keynes. 13. Goebel, P. (1990) Erfolgreiche Jungunternehmer. mvg – Moderne Verlagsgesellschaft, Mnchen. 14. , Pyka, A. and Hanusch, H. (2004) An Evolutionary Approach to the Theory of Entrepreneurship. Industry and Innovation, Vol.