Open-Source Models in Economics

From Wikipedia, which seemed appropriate for this post, a definition and an English lesson:

Open source denotes that the origins of a product are publicly accessible in part or in whole. When used as an adjective, the term is hyphenated: "Apache is open-source software." When used as a noun, there is no hyphen: "Netscape released its Navigator source code as open source."

Will the same model work in economics? On the sidebar of this site there is a section entitled “Open-Source” models (I added the hyphen this evening). There are four models there, one by Mark Thoma (me), one by Alex Tabarrok, and two from Brad DeLong. The models are on a variety of topics, in different stages of development, and have both classroom and research orientations. Open-source models are working in computer science and they are becoming more and more popular. Listen to Microsoft:

The Redmond, Wash.-based software giant acknowledged Linux is a growing challenge to its business … "To the extent open source software products gain increasing market acceptance, sales of our products may decline, which could result in a reduction in our revenue and operating margins."

How do open-source models work? OpenSource.org addresses this question:

The basic idea behind open source is very simple: When programmers can read, redistribute, and modify the source code for a piece of software, the software evolves. People improve it, people adapt it, people fix bugs. And this can happen at a speed that, if one is used to the slow pace of conventional software development, seems astonishing. We in the open source community have learned that this rapid evolutionary process produces better software than the traditional closed model, in which only a very few programmers can see the source and everybody else must blindly use an opaque block of bits. … Open source software is an idea whose time has finally come … so … please send us URLs of articles and papers on commercial trials of the open source model, on open source software including such packages as Linux and Apache, and related topics.

This will follow as open a process as possible:

1. Download one of the models to use freely for teaching, research, etc.
2. If you improve the model technically, improve the exposition, etc., please email it back to me. I will add your name as a contributor and post it in the open-source section. Older versions will remain posted as well.
3. If you have a paper you would like to post in the open-source models section, email it to me and I will gladly add it to the list.

Even this list of “rules” is open-source, so feel free to suggest amendments… Most of us have papers we never quite finished for one reason or another, or useful models built for classroom or other applications. If you have such a model, please send it along to share with others. Finally, please note that these models are, hopefully, useful, but they are works in progress and not finished products. They may have bugs. They may need bells and whistles. They may need to be taken in a new direction. They may need things only you can provide. In any case, your participation is welcomed and encouraged.