Agent-based simulation and greenhouse gas emissions trading

The need for new theoretical and experimental approaches to understand dynamic and heterogeneous behavior in complex economic and social systems is increasing recently. An approach using the agent-based simulation and the artificial market on the computer system is considered to be an effective approach. The computational simulation with dynamically interacting heterogeneous agents is expected to re-produce complex phenomena in economics, and helps us to experiment various controlling methods, to evaluate systematic designs, and to extract the fundamental elements which produce the interesting phenomena for future analytical works. In the previous works, we investigated the stability of a virtual commodities market and the aggregated behavior of the dynamic online auctions with heterogeneous agents. In this paper, we will introduce a simple framework to develop agent-based simulations systematically and consider an application of the agent-based simulation for a dynamical model of the international greenhouse gas emissions trading.