Ülo Ennuste Economics

papers and articles in wordpress

Interesting agent-based computational model

 Agent-based computational models – a formal heuristic for institutionalist pattern modelling?


Institute for Institutional and Innovation Economics (iino), University of Bremen, Bremen, Germany


I investigate the consistency of agent-based computational models with the institutionalist research program as outlined by Myrdal, Wilber and Harrison, Hodgson and others. In particular, I discuss whether such models can be a useful heuristic for ‘pattern modelling’: Can they provide a holistic, systemic and evolutionary perspective on the economy? How can agency be conceptualised within ABMs? Building on these issues, I discuss potentials and challenges of the application of ABM in institutionalist research. This discussion also relates to recent methodological advances in neo-Schumpeterian economics. I explain how institutionalists can benefit from these and suggest areas for joint research under the methodological umbrella of ABM.

P.S.: This 21p Paper is based on the 26p Report 15 January 2015:


“5 Conclusion (first section, üe)
This paper has presented dierent formalisms that can help socio economists in their scrutinies. It is clear that neoclassical theory exaggerates the use of formalisms, but is by no means representative for formalist analysis. All the formalisms discussed in this article
can potentially be useful for socio economic analysis, but to achieve this, the formalism must be embedded into a broader theoretical frame: No formalism speaks adequately for itself. All have to be interpreted, and their inherent ontological and epistemological
tendencies have to be re ected. This article therefore represents a potential starting point for a more extensive and adequate use of formalisms in this sense. … ”

P.S.P.S.: Additional Literature

Ennuste, Ü. 2003. A Linear Planning Analysis of Institutional Structure in the Economy. In: Ülo Ennuste and Lisa Wilder (eds.) Essays in Estonian Transformation Economics. Tallinn:


https://iweb.cerge-ei.cz/pdf/gdn/RRCII_34_paper_01.pdf  pp41-52


http://www.communistcrimes.org/en/Database/Estonia/Estonia-Communist-Era .


June 16, 2015 - Posted by | Uncategorized

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