Neoclassical influences in agent‐based literature: A systematic review

C-Tier
Journal: Journal of Economic Surveys
Year: 2022
Volume: 36
Issue: 2
Pages: 350-385

Score contribution per author:

0.335 = (α=2.01 / 3 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Several studies highlight that the method and the object of analysis of Agent‐Based models are in various respects in stark contrast to the prevailing neoclassical paradigm and therefore should be included in the traditions of alternative economic thought. In this paper, however, we show that distinctive features of the neoclassical theory can be found in most of the AB literature. Through a systematic review of most cited academic papers published in the period 1996–2019 and dedicated to Agent‐Based models, we show that a “neoclassical influence” can be detected in 61% of papers, while only 39% do not have links with the mainstream neoclassical approach. We also note that after the “great recession” started in 2008 the neoclassical influences on AB literature decline to a significant extent.

Technical Details

RePEc Handle
repec:bla:jecsur:v:36:y:2022:i:2:p:350-385
Journal Field
General
Author Count
3
Added to Database
2026-01-24