Agent-Based Computational Economics: Modeling Economies As Complex Adaptive Systems
AbstractAgent-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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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12974.
Date of creation: 19 Aug 2008
Date of revision:
Publication status: Published in Information Sciences 2003, vol. 149, pp. 263-269
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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
Web page: http://www.econ.iastate.edu
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agent-based computational economics; complex adaptive systems;
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- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
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- E - Macroeconomics and Monetary Economics
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