For an extensive discussion on what defines a neo-Schumpeterian agent-based
model and what are the essential components and different considerations in
designing an agent-based model, the reader is referred to Pyka and Fagiolo (2007).
For the experienced ABM developer, it is obvious that the elements mentioned in
the previous two sections can be implemented without much ado. In fact, the field
of neo-Schumpeterian modeling started with Nelson and Winter (1982)
implementing