  Nowadays, we are surrounded by a large number of complex phenomena ranging
from rumor spreading, social norms formation to rise of new economic trends and
disruption of traditional businesses. To deal with such phenomena,Complex
Adaptive System (CAS) framework has been found very influential among social
scientists,especially economists. As the most powerful methodology of CAS
modeling, Agent-based modeling (ABM) has gained a growing application among
academicians and practitioners. ABMs show how simple behavioral rules of agents
and local interactions among them at micro-scale can generate surprisingly
complex patterns at macro-scale. Despite a growing number of ABM publications,
those researchers unfamiliar with this methodology have to study a number of
works to understand (1) the why and what of ABMs and (2) the ways they are
rigorously developed. Therefore, the major focus of this paper is to help
social sciences researchers,especially economists get a big picture of ABMs and
know how to develop them both systematically and rigorously.
