CPM Report No.: 96-09
By: Bruce Edmonds, Scott Moss and Steve Wallis
Date: February 1996
Published as: Edmonds, B., Moss, S. and Wallis, S.: Logic, Reasoning and A Programming Language for Simulating Economic and Business Processes with Artificially Intelligent Agents. In Ein-Dor, Phillip (ed.) Artificial Intelligence in Economics and Management. Boston: Kluwer Academic Publishers (1996). 221-230.
The merits of modelling within a logical, as opposed to Bayesian, framework is discussed. It is claimed that a logical formalism is more appropriate for modelling qualitative decisions and that this framework makes the unfolding of process more apparent. This difference in approach leads to adopting a declarative programming rather than imperative paradigm. This approach also enables the credible modelling of agents with limited information processing capacities. An agent orientated and strictly declarative computer modelling language is presented called SDML which has been specifically developed to support such a style of modelling. Some methodological issues arising from this are also discussed.
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