## Chapter 11. System Dynamics and Agent-Based Models

Judging by the title of this chapter, you may think that we are going to discuss a completely different topic compared to previous chapter topics. But this is not true. We already did some simple system dynamics in Chapter 6, *Probability Theory Shown by Simulation* when we flipped the coin (over time). The evolution over time was just the frequency counts of one side of the coin. In addition, we did Markov chain Monte Carlo experiments that also develop over time and possibly converge against a solution. However, this chapter differs in terms of only constants and probabilities playing a role. Statistical uncertainty is – unfortunately – not directly related to system dynamics.

In this chapter, we want to discuss some more advanced modeling over time. Generally, dynamic systems, in terms of the evolution of systems in time, have widespread applications, for example, the growth of organisms, stock markets in finance, traffic, chemical reactions...