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Associate Professor of Economics, University of Tabriz
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Professor of Applied Mathematics, University of Tabriz
Abstract
One of the main concerns of economic scholars and thinkers is to predict the behavior of individuals in an economic system. Although economists often use complex mathematical equations for economic analysis, in recent decades due to the weakness of forecasting analyses based on equations and inability of such equations to justify empirical events, economists have used modeling and simulation methods. In other words, they are looking for ways to justify complex phenomena in the economy as a complex system. In addition to applying complexity theory, this research attempts to introduce a research tool to scholars for the simulation of agent-based research. In this study, we will examine the efficiency of each system by developing an agent-based model based on a No-Ponzi economic system and comparing it with a Ponzi economic model. We will also examine the effects and consequences of some economic behaviors that are contrary to the ethics and teachings of Islam. Comparing the two models, the results indicate that the No-Ponzi model has a better human development index and more social welfare.
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Javidi Abdollahzadeh Aval, N., Assad Zadeh, A., & Shahmorad, S. (2019). A Comparative Study of the Efficiency of Ponzi Vs. No-Ponzi Economic System Based on Agent-Based Modeling. Quarterly Journal of Applied Theories of Economics, 6(3), 73-102.
MLA
Narges Javidi Abdollahzadeh Aval; Ahmad Assad Zadeh; Sedaghat Shahmorad. "A Comparative Study of the Efficiency of Ponzi Vs. No-Ponzi Economic System Based on Agent-Based Modeling". Quarterly Journal of Applied Theories of Economics, 6, 3, 2019, 73-102.
HARVARD
Javidi Abdollahzadeh Aval, N., Assad Zadeh, A., Shahmorad, S. (2019). 'A Comparative Study of the Efficiency of Ponzi Vs. No-Ponzi Economic System Based on Agent-Based Modeling', Quarterly Journal of Applied Theories of Economics, 6(3), pp. 73-102.
VANCOUVER
Javidi Abdollahzadeh Aval, N., Assad Zadeh, A., Shahmorad, S. A Comparative Study of the Efficiency of Ponzi Vs. No-Ponzi Economic System Based on Agent-Based Modeling. Quarterly Journal of Applied Theories of Economics, 2019; 6(3): 73-102.
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