Agent Based Modeling and Austrian Analysis of Accident Law
Loading...
Authors
Seagren, Chad W.
Subjects
law & economics
accident law
agent-based modeling
evolutionary economics
accident law
agent-based modeling
evolutionary economics
Advisors
Date of Issue
2010-02-19
Date
Publisher
Monterey, California: Naval Postgraduate School.
Language
Abstract
The purpose of this project is to demonstrate that the economic analysis of the law should proceed from the notion that individuals form a spontaneous order in response to the institution of tort law, each other, and their environment. First, I address the methodological advantages of the emergent framework over that of the mainstream neoclassical position, as well as assess the Austrian contribution. I then attempt to reconcile agent-based modeling with the common methodological concerns. I subsequently attempt to demonstrate the efficacy of agent based modeling as an analytical tool that exploits its dynamic capabilities and develop an artificial society in which virtual agents endowed with varying attributes pursue productive, though inherently accident prone activity. The accidents are chance encounters and engaging in behavior that reduces the likelihood of accidents is costly. I consider the typical questions researchers working within the neoclassical tradition tend to pursue such as analysis of the relative benefits of strict liability and negligence. However, I also highlight that the agent-based approach is also useful in inspiring and answering wide ranges of questions that the neoclassical framework is incapable of identifying and examining.
Type
Description
The article of record as published may be located at http://dx.doi.org/10.2139/ssrn.1479987
Series/Report No
Department
Operations Research
Organization
Identifiers
NPS Report Number
Sponsors
Funder
Format
Citation
Distribution Statement
Approved for public release; distribution is unlimited.
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.