Modeling Human Education Data: From Equation-Based Modeling to Agent-Based Modeling
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Agent-based simulation is increasingly used to analyze the performance of complex systems. In this paper we describe results of our work on one specific agent-based model, showing how it can be validated against the equation-based model from which it was derived, and demonstrating the extent to which it can be used to derive additional results over and above those that the equation-based model can provide.
The agent-based model that we build deals with human capital, the number of years of formal schooling that an individual chooses to undertake. For verification, we show that our agent-based model makes similar predictions about the growth in inequality — that is the growth of the variance in human capital across the population — as th equation-based model from which it is derived. In addition, we show that our model can make predictions about the change in human capital from generation to generation that are beyond the equation-based model.
KeywordsHuman Capital MultiAgent System Autonomous Agent Emergent Phenomenon High Human Capital
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