From Economic Agents to Agentic Economies: A Systems Blueprint for Economic World Models

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economic-world-models agent-based-modeling llm-agents simulation generative-economics research-blueprint

Summary

This paper proposes a systems blueprint and six-level capability ladder for building Economic World Models (EWMs), where heterogeneous agents interact with markets and institutions to generate emergent economic dynamics. It surveys existing work and emphasizes gaps in self-evolving agents, endogenous institutions, and empirical alignment.

Economic World Models (EWMs) are generative economic models that simulate how economies evolve from within by modeling heterogeneous agents, their beliefs and actions, and the market and institutional mechanisms through which their interactions produce aggregate outcomes. This paper develops an implementation roadmap for building economic world models as generative engines in which heterogeneous agents act, interact, adapt, and co-evolve with markets and institutions, thereby producing economic dynamics from the inside. We organize EWM systems into a six-level capability ladder, from fixed rule-based agent worlds to adaptive and LLM-based agent worlds, self-evolving agents, evolving institutional worlds, and sim-to-real economic twins aligned with real observations. A systematic literature survey across these levels reveals that existing work remains concentrated in lower-level agent and simulation environments, while systems with self-evolving agents, endogenous institutions, persistent empirical alignment, and validated economic mechanisms remain rare. By translating the EWM agenda into an implementation blueprint, this paper aims to accelerate the development of the next generation of economic simulation environments that can serve as high-fidelity sandboxes for human decision-makers and as training, planning, evaluation, and safety substrates for AI agents. We release a curated paper list and related resources to support future research.
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Paper page - From Economic Agents to Agentic Economies: A Systems Blueprint for Economic World Models

Source: https://huggingface.co/papers/2608.06020 Published on Aug 6

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Submitted byhttps://huggingface.co/Benyou

Wangon Aug 7

Abstract

EconomicWorldModels(EWMs)aregenerativeeconomicmodelsthatsimulatehoweconomiesevolvefromwithinbymodelingheterogeneousagents,theirbeliefsandactions,andthemarketandinstitutionalmechanismsthroughwhichtheirinteractionsproduceaggregateoutcomes.Thispaperdevelopsanimplementationroadmapforbuildingeconomicworldmodelsasgenerativeenginesinwhichheterogeneousagentsact,interact,adapt,andco-evolvewithmarketsandinstitutions,therebyproducingeconomicdynamicsfromtheinside.WeorganizeEWMsystemsintoasix-levelcapabilityladder,fromfixedrule-basedagentworldstoadaptiveandLLM-basedagentworlds,self-evolvingagents,evolvinginstitutionalworlds,andsim-to-realeconomictwinsalignedwithrealobservations.Asystematicliteraturesurveyacrosstheselevelsrevealsthatexistingworkremainsconcentratedinlower-levelagentandsimulationenvironments,whilesystemswithself-evolvingagents,endogenousinstitutions,persistentempiricalalignment,andvalidatedeconomicmechanismsremainrare.BytranslatingtheEWMagendaintoanimplementationblueprint,thispaperaimstoacceleratethedevelopmentofthenextgenerationofeconomicsimulationenvironmentsthatcanserveashigh-fidelitysandboxesforhumandecision-makersandastraining,planning,evaluation,andsafetysubstratesforAIagents.Wereleaseacuratedpaperlistandrelatedresourcestosupportfutureresearch.

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