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An Agent-Based Computational Approach to "The Adam Smith Problem"

Das Adam Smith Problem: ein agentenbasierter Integrationsvorschlag
[Zeitschriftenartikel]

Gavin, Michael

Abstract

This paper uses agent-based modeling to investigate the philosophy of Adam Smith. During his lifetime, Smith published two books. In An Inquiry into the Nature and Causes of the Wealth of Nations (1776), he argued that market behavior was dictated primarily by self-interest. However, his earlier boo... mehr

This paper uses agent-based modeling to investigate the philosophy of Adam Smith. During his lifetime, Smith published two books. In An Inquiry into the Nature and Causes of the Wealth of Nations (1776), he argued that market behavior was dictated primarily by self-interest. However, his earlier book, The Theory of Moral Sentiments (1759), placed sympathy and benevolence at the center of human social psychology. Reconciling these apparently contradictory views is known as the Adam Smith Problem. This study uses an agent-based model to combine Smith’s theories, exploring how social norms affect economic behavior, and vice versa. Although they share many basic assumptions, Smith’s works leave important questions unanswered: Theory of Moral Sentiments offers a strong model of how social norms consolidate but lacks a coherent explanation for how norms change over time, and, on the other side, Wealth of Nations does not account for the influence of social norms on commercial transactions nor for the durability of seemingly irrational norms in a context of market competition. Considering both theories together in a single model sheds light on their underlying tensions and exposes instabilities that Smith did not anticipate.... weniger

Thesaurusschlagwörter
soziale Norm; Sozialpsychologie; Simulation; Verhaltensmodell; Modell; Wirtschaftsethik; Theorievergleich; Smith, A.; Computer; ökonomisches Verhalten; Modellentwicklung

Klassifikation
Sozialpsychologie
Erhebungstechniken und Analysetechniken der Sozialwissenschaften
Allgemeine Soziologie, Makrosoziologie, spezielle Theorien und Schulen, Entwicklung und Geschichte der Soziologie

Freie Schlagwörter
Adam Smith; agent-based simulation; agent-based computational economics; digital humanities; intellectual history; Theory of Moral Sentiments; Wealth of Nations

Sprache Dokument
Englisch

Publikationsjahr
2018

Seitenangabe
S. 308-336

Zeitschriftentitel
Historical Social Research, 43 (2018) 1

Heftthema
Agent-Based Modeling in Social Science, History, and Philosophy

DOI
https://doi.org/10.12759/hsr.43.2018.1.308-336

ISSN
0172-6404

Status
Veröffentlichungsversion; begutachtet (peer reviewed)

Lizenz
Creative Commons - Namensnennung 4.0


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Home  |  Impressum  |  Betriebskonzept  |  Datenschutzerklärung
© 2007 - 2025 Social Science Open Access Repository (SSOAR).
Based on DSpace, Copyright (c) 2002-2022, DuraSpace. All rights reserved.