Socio-Economic Modelling Using the DEVS Formalism

Socio-Economic Model, Simulation, DEVS, Artificial Life

The paper deals with new approach to modeling of socio-economic systems. In these types of models, there are many interacting entities (agents, players). The whole market comes up as the result of these interacts. In the sense of the economy, this conception is based on the Subject-Need-Good triad. The subject in this model represents an economical subject with its needs that can be satisfied by a consummation of a good. In the sense of computational modeling, this conception is based on the DEVS formalism, where each subject is represented by one coupled DEVS. This coupled DEVS contains several atomic DEVS. There are only three types of the atomic DEVS - Generator/Store, Transformer and Optimizer. The basic process of the conception is the Transformation that changes one type of a good to any other, or that uses a good to satisfaction of a need.