Behind the Scenes

Our Philsophy

Why are we building ESL?

ESL aims to provide a framework and libraries for simulations of complex economic systems. Complexity may be characterized by massive numbers of interacting entities, non-trivial network structures and interaction patterns, as well as great diversity of behaviors and properties. Modeling such systems without swiping simplifications requires in particular scalability, configurability, modularity, versatility, and possibly parallelizability.

Complex economic systems may be qualitatively different from simple representations; in the same way, complex economic simulations will differ strikingly from simple ones. While there are plenty of tools and frameworks for the creation and simulation of simple and moderately complex economic models, none of them combines the design characteristics that complex economic systems require in the way ESL will.

It is of central importance that all elements of ESL remain open and configurable and that any and every aspect can for specific simulation models be redefined according to the needs of the model under investigation. The code is and will remain open-source and modular. Standard implementations of agents, markets, contracts, balance sheets and other aspects are, however, provided. ESL will capture implementations of standard economic agents, such as mortgage contracts, banks, etc…The standard implementations will help to make the modeling and simulation of complex economic systems highly accessible even with modest resources. A long-term goal is to allow users to plug and play common economic agents into their own model.

BLOGS · DESIGN · OVERVIEW

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