A Simulation of the Economic Impact of Disaster Events

Richie Pajak

Name: Richie Pajak
Major: Computer Science
Minor: Economics
Advisor: Heather Guarnera

The goal of this project is to determine the impact of natural disasters on an economy by analyzing the changes in prices of goods caused by disaster events that impact the supply of goods within the economy. This was accomplished with an agent-based model built in Python to simulate the effects of a natural disaster on normal economic activity. The simulation features a collection of businesses who produce and sell goods along with economic actors known as agents that are able to purchase goods and work in businesses to earn money. In order to respond to the economic forces of supply and demand present in the economy, the businesses are able to dynamically change the prices of the goods they sell. These changes are then tracked and analyzed to determine if the changes seen in the model reflect what would be expected according to established economic theory. Results from this project show that the model is accurate in predicting price change trends in goods that are present in an economy that is impacted by natural disasters.

Posted in Comments Enabled, Independent Study, Symposium 2022.

One response to “A Simulation of the Economic Impact of Disaster Events”

  1. Hope Carmody says:

    Great work Richie! I’m so proud of you!

Related Posts

Head shot of Natalie Bean

Sioux Resistance: How the Lakota, Dakota and Nakota People Maintain Their Fight Against the United States for Sovereignty and Land

A Knock-out Experiment on a Neuronal Boolean Model


The Infection Frequency and Severity of Batrachochytrium Dendrobatidis in Northern Two-Lined Salamanders in Wooster Ohio

Related Areas of Study


Learn how humans organize to sustain life and enhance its quality from a diversity of economic perspectives

Major Minor

Computer Science

Solve complex problems with creative solutions using computer programming and applications

Major Minor

Connect with Wooster