Computation in Economics
AbstractThis is an attempt at a succinct survey, from methodological and epistemological perspectives, of the burgeoning, apparently unstructured, field of what is often – misleadingly – referred to as computational economics. We identify and characterise four frontier research fields, encompassing both micro and macro aspects of economic theory, where machine computation play crucial roles in formal modelling exercises: algorithmic behavioural economics, computable general equilibrium theory, agent based computational economics and computable economics. In some senses these four research frontiers raise, without resolving, many interesting methodological and epistemological issues in economic theorising in (alternative) mathematical modes
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Bibliographic InfoPaper provided by ASSRU - Algorithmic Social Science Research Unit in its series ASSRU Discussion Papers with number 1001.
Date of creation: 2010
Date of revision:
Classical Behavioural Economics; Computable General Equilibrium theory; Agent Based Economics; Computable Economics; Computability; Constructivity; Numerical Analysis;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-04 (All new papers)
- NEP-CBE-2011-06-04 (Cognitive & Behavioural Economics)
- NEP-CMP-2011-06-04 (Computational Economics)
- NEP-EVO-2011-06-04 (Evolutionary Economics)
- NEP-HME-2011-06-04 (Heterodox Microeconomics)
- NEP-HPE-2011-06-04 (History & Philosophy of Economics)
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