Template-type: ReDIF-Paper 1.0
Author-Name: Ross Richardson
Author-Workplace-Name: Institute for New Economic Thinking at the Oxford Martin School; Mathematical Institute, University of Oxford, UK 
Author-Name: Matteo Richiardi
Author-Workplace-Name: Institute for New Economic Thinking and Nuffield College, Oxford, UK; Collegio Carlo Alberto, Moncalieri, Italy Mathematical Institute, University of Oxford
Author-Email: Matteo.Richiardi@maths.ox.ac.uk
Author-Name: Michael Wolfson
Author-Workplace-Name: University of Ottawa, Canada
Title: We ran one billion agents. Scaling in simulation models
Abstract: We provide a clarification of scaling issues in simulation models, distinguishing between sample size
determination, discovery of emergent properties involving a qualitative change in the behaviour of the system
at an aggregate level, and ‘true’ scaling, the dependence of the quantitative behaviour of the system at any
given level of aggregation, to its size. Scaling issues arise because we want to understand what happens when
we run one billion agents, without actually having to run one billion agents. We discuss how we can use the
Buckingham Pi theorem, a key tool in dimensional analysis, to provide guidance on the nature and structure
of scaling relationships in agent-based models.
X-Classification-JEL: 
X-Keywords: 
Length: 27 pages
Creation-Date: 2015-06-29
Number: 2015-W05
File-URL: http://www.nuffield.ox.ac.uk/economics/papers/2015/WeRanOneBillionAgents.pdf
File-Format: application/pdf
Handle: RePEc:nuf:econwp:1505