In the 1980s and ’90s, SFI played laboratory to a promising new method known as agent-based modeling. In ensuing decades, agent-based models (ABMs) proliferated across many fields, including economics ...

Decentralized finance (DeFi) has emerged as the flagship concept and use case for blockchain technology and cryptocurrency. DeFi is the use of smart contracts and other decentralized technologies to ...

The Nobel Memorial Prize in Economic Science was awarded today to two scholars who revolutionized the technique of statistically modeling national economies, stock markets, and other complex systems ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

A model that uses data from the Federal Reserve System’s Beige Book suggests there is a 24% chance the U.S. economy was ...

Mansfield, England – Dying Economy, a leading online resource hub that provides up-to-date and in-depth information on the UK and US economies, is pleased to announce the release of a new article on ...

Using a microsimulation approach, this study modeled the potential multiyear health and economic benefits of participating in cardiometabolic virtual-first care programs. Objectives: This study ...

The traditional economic model of quality of conformance graph, proposed by J. M. Juran in 1962, demonstrates how the cost of producing your product drops when a quality assurance program begins, only ...

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that ...