This study explores the dynamics of urban sprawl through the application of DYNAMA, a Cellular Automata (CA) based model. The model simulates the urban land use expansion process in a disaggregated field of land units taking into account a set of local characteristics of cells and neighborhood...

Efficient, accurate, multi-dimensional, numerical integration has become an important tool for approximating the integrals which arise in modern economic models built on unobserved heterogeneity, incomplete information, and uncertainty. This paper demonstrates that polynomial-based rules...

We study consumption behaviour in systems with heterogeneous interacting agents. Two different models are introduced, respectively with long and short range interactions among agents. At any time step an agent decides whether or not to consume a good, doing so if this provides positive utility....

On the basis of the First and second Law of Thermodynamics in the Economy and the Gibbs-Equation of Thermodynamics, Economic Equations are developed of the Inner Energy, the Entropy and the Free Energy (Value Added) of multiple economic systems to calculate the risks of investing in a merger and...

This work combines generic complexity of economic system and economic agents with methodologies of multi-agent system analysis and development. This combination results in an integrative framework that serves as communication protocol for delivering and transmitting agent-based model for...