What is the difference between ABM and system dynamics?
System dynamics is characterized by causal feedback loops and is formalized by sets of differential equations which are numerically solved in user-friendly packages like Stella and Vensim. One can write simple agent-based models in packages like Stella and Vensim, using arrays of differential equations and a fixed topology of interactions. But this use of system dynamics packages restrict the possibilities of more dynamic interactions of agents, heterogeneity of agents, more complex recursive reasoning processes.
