Paper maps blueprint for economic world models

A new arXiv paper proposes an implementation roadmap for Economic World Models, generative systems that simulate economies through heterogeneous agents, their beliefs and actions, and market and institutional mechanisms. The authors organize the field into a six-level capability ladder, spanning fixed rule-based agent worlds, adaptive and LLM-based agent worlds, self-evolving agents, evolving institutions, and sim-to-real economic twins aligned with observations. Their literature survey finds current work remains concentrated in lower-level agent and simulation environments, while systems with self-evolving agents, endogenous institutions, persistent empirical alignment, and validated mechanisms remain rare.