Modeling the use of nonrenewable resources using a genetic algorithm
- Publikationstyp:
- Wissenschaftliche Edition
- Metadaten:
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- Abstract
- This paper shows, how a genetic algorithm (GA) can be used to model an economic process: the interaction of profit-maximizing oil-exploration firms that compete with each other for a limited amount of oil. After a brief introduction to the concept of multi-agent-modeling in economics, a GA-based resource-economic model is developed. Several model runs based on different economic policy assumptions are presented and discussed in order to show how the GA-model can be used to gain insight into the dynamic properties of economic systems. The remainder outlines deficiencies of GA-based multi-agent approaches and sketches how the present model can be improved.
- Autoren
- Daniel Schunk
- Datum der Veröffentlichung
- 2003
- Titel
- Modeling the use of nonrenewable resources using a genetic algorithm
Datenquelle: RePEc
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