August 09, 2016
The paper “An Agent-Based Simulation of the Stolper-Samuelson effect” got accepted for publication in Computational Economics. Originally, this was a term paper Friedrich Kreuser and I wrote for the course Computational Economics and Finance by Karl Schmedders in spring 2014, and that I presented at CEF 2015.
The paper is about replicating a well-known phenomenon from classic economic theory, namely the Stolper-Samuelson effect, in an agent-based simulation. We succeeded at doing so with high accuracy thanks to the adoption of a few new algorithmic ideas. Interestingly, the agent-based simulation is much faster at finding the correct result than Mathematica or Matlab can solve the corresponding equation system from the classic theory.