Project
EF4-5
An Agent-Based Understanding of Green Growth
Project Heads
Sarah Wolf
Project Members
Aida Saraí Figueroa Alvarez
Project Duration
01.07.2021 – 30.06.2024
Located at
FU Berlin
Description
This project aims to develop and analyse a series of agent-based models which extend a standard economic growth model with elements representing directed technical change, a labour market with search, and expectation dynamics of the economic agents in the system. An agent-based model with a focus on endogenous technical change has been developed and is currently being analysed. Its agents follow standard economic characteristics and rules but differ in terms of the investment strategy they use; in particular, in addition to standard “benevolent planner” or “free-rider” agents, they can have expectations on what other agents do.
The project wants to contribute to mathematisation of economic agent-based models by investigating how far such models can be formulated as iterated games on networks and/or Markov processes and what can be gained by doing so. In application terms, it wants to help develop a theory of Green Growth transitions, that is, make explicit mechanisms through which an economy can switch to a low carbon structure that at the same time comes with benefits in economic and social dimensions.
Project Webpages
Selected Publications
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