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

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Author Info

  • Tesfatsion, Leigh S.

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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Bibliographic Info

Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12974.

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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;

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Cited by:
  1. McArthur, David Philip & Thorsen, Inge & Ubøe, Jan, 2009. "Congested Interregional Infrastructure, Road Pricing and Regional Labour Markets," Discussion Papers 2009/3, Department of Business and Management Science, Norwegian School of Economics.
  2. Situngkir, Hokky, 2011. "Pengertian dari dan untuk ketakmengertian: Social Complexity sebagai cara pandang baru dalam memahami fenomena sosial
    [Understanding from and to the inability to understand: Social Complexity as a
    ," MPRA Paper 30871, University Library of Munich, Germany.
  3. McArthur, David & Thorsen, Inge & Ubøe, Jan, 2008. "An agent-based computational approach to explaining persistent spatial unemployment disparities," Discussion Papers 2008/17, Department of Business and Management Science, Norwegian School of Economics.

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