Faculty Sponsor: Shyam Gouri Suresh
Agent-based simulation provides economists with an effective tool to model interactions between agents (such as people, countries, etc.) in real-world applications. One application for which this modeling technique is particularly useful is modeling land pricing. Mapping a metropolitan area can help economists investigate urban land pricing market shifts while accounting for land constraints and obstacles, such as water or mountains. These models can also provide economists with an effective way to model how twin cities, in our case Tampa and St. Petersburg, FL, can affect the land pricing of one another.