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This paper presents a simulation model that is capable to explore essential features of the emergence and exit of economic institutions. The models used at the micro-level as well as the interactions which lead to the emergence of macro-behavior are described in detail, possible extensions are hinted at. With a large amount of simulation runs a(More)
We present a highly stylized agent-based computational model (ABM) of an artificial economic and monetary union. Contrary to other current macroeconomic ABMs, it focuses on the relations/consequences of credit-financed, high-leveraged economies, conspicuous consumption within and across borders and a monetary and economic union of individual countries. The(More)
We use an agent-based model to investigate the interdependent dynamics between individual agency and emergent socioeconomic structure, leading to institutional change in a generic way. Our model simulates the emergence and exit of institutional units, understood as generic governed social structures. We show how endogenized trust and exogenously given(More)
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