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date: 25 February 2020

Abstract and Keywords

This article provides a discussion on agent-based modeling. Two examples that show the ability of computational methods to extend game-theoretic results are presented. It then discusses modeling agents, modeling agent interactions, and system behaviour. In addition, it describes how agent-based models differ from and complement mathematical models and concludes with some suggestions for how one might best leverage the strengths of agent-based models to advance political science. Most mathematical analyses of game-theoretic models do not look into the stability and attainability of their equilibria and would be made richer by complementing them with agent-based models that explored those properties. The ability of computational models to test the robustness of formal results would be reason alone to add them to tool kits. As a methodology, agent-based modeling should be considered as in its infancy, its enormous potential limited only by the scientific and creative talents of its practitioners.

Keywords: agent-based modeling, game-theoretic models, computational methods, modeling agents, system behaviour

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