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Agent-Based Computational Economics: Modeling Economies as Complex Adaptive Systems

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Author Info
Tesfatsion, Leigh S.

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Abstract

Agent-based computational economics (ACE) is the computational study of economies modeled as dynamic systems of interacting agents. Thus, ACE is a specialization to economics of the basic complex adaptive systems paradigm. This paper outlines the main objectives and defining characteristics of the ACE methodology, and disusses several active application areas. Annotated pointers to related work can be accessed here: http://www.econ.iastate.edu/tesfatsi/ace.htm

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File URL: http://www.econ.iastate.edu/tesfatsi/ACEIS.pdf
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Publisher Info
Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12974.

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Length: 7 pages
Date of creation: 19 Aug 2008
Date of revision:
Publication status: Published in Information Sciences, 2003, Vol. 149, pp. 263-269.
Handle: RePEc:isu:genres:12974

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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Web page: http://www.econ.iastate.edu
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Related research
Keywords: Agent-based computational economics; complex adaptive systems;

Find related papers by JEL classification:
B4 - Schools of Economic Thought and Methodology - - Economic Methodology
C0 - Mathematical and Quantitative Methods - - General
C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
D0 - Microeconomics - - General

Cited by:
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  1. McArthur, David & Thorsen, Inge & Ubøe, Jan, 2008. "An agent-based computational approach to explaining persistent spatial unemployment disparities," Discussion Papers 2008/17, Department of Finance and Management Science, Norwegian School of Economics and Business Administration. [Downloadable!]
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This page was last updated on 2009-11-9.

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