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Varieties of agents in agent-based computational economics: A historical and an interdisciplinary perspective

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  • Chen, Shu-Heng

Abstract

In this paper, we trace four origins of agent-based computational economics (ACE), namely, the markets origin, the cellular-automata origin, the tournaments origin, and the experiments origin. Along with this trace, we examine how these origins have motivated different concepts and designs of agents in ACE, which starts from the early work on simple programmed agents, randomly behaving agents, zero-intelligence agents, human-written programmed agents, autonomous agents, and empirically calibrated agents, and extends to the newly developing cognitive agents, psychological agents, and culturally sensitive agents. The review also shows that the intellectual ideas underlying these varieties of agents cross several disciplines, which may be considered as a part of a general attempt to study humans (and their behavior) with an integrated interdisciplinary foundation.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Dynamics and Control.

Volume (Year): 36 (2012)
Issue (Month): 1 ()
Pages: 1-25

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Handle: RePEc:eee:dyncon:v:36:y:2012:i:1:p:1-25

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Web page: http://www.elsevier.com/locate/jedc

Related research

Keywords: Cellular automata; Autonomous agents; Tournaments; Genetic algorithms; Genetic programming; Cognitive capacity;

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Cited by:
  1. Lengnick, Matthias & Krug, Sebastian & Wohltmann, Hans-Werner, 2012. "Money creation and financial instability: An agent-based credit network approach," Economics Discussion Papers 2012-61, Kiel Institute for the World Economy.
  2. Iori, G. & Porter, J., 2012. "Agent-Based Modelling for Financial Markets," Working Papers 12/08, Department of Economics, City University London.
  3. Shu-Heng Chen & Ye-Rong Du & Lee-Xieng Yang, 2014. "Cognitive capacity and cognitive hierarchy: a study based on beauty contest experiments," Journal of Economic Interaction and Coordination, Springer, vol. 9(1), pages 69-105, April.
  4. Gräbner, Claudius, 2014. "Agent-Based Computational Models - A Formal Heuristic for Institutionalist Pattern Modelling?," MPRA Paper 56415, University Library of Munich, Germany.

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