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Computer simulations, mathematics and economics

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Economists lise different kinds of computer simulation. However, there is little attention on the theory of simulation, which is considered either a technology or an extension of mathematical theory or, else, a way of modelling that is alternative to verbal description and mathematical models. The paper suggests a systematisation of the relationship between simulations, mathematics and economics. In particular, it traces the evolution of simulation techniques, comments some of the contributions that deal with their nature, and, finally, illustrates with some examples their influence on economie theory. Keywords: Computer simulation, economie methodology, multi-agent programming techniques.

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File URL: http://www.cesmep.unito.it/WP/2005/6_WP_Cesmep.pdf
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Paper provided by University of Turin in its series CESMEP Working Papers with number 200506.

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Length: 33 pages
Date of creation: 12 May 2005
Date of revision:
Handle: RePEc:uto:cesmep:200506

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  1. Deirdre McCloskey, 1998. "Simulating Barbara," Feminist Economics, Taylor & Francis Journals, vol. 4(3), pages 181-186.
  2. Tesfatsion, Leigh, 2006. "Agent-Based Computational Economics: A Constructive Approach to Economic Theory," Staff General Research Papers 12514, Iowa State University, Department of Economics.
  3. Tesfatsion, Leigh & Judd, Kenneth L., 2006. "Handbook of Computational Economics, Vol. 2: Agent-Based Computational Economics," Staff General Research Papers 10368, Iowa State University, Department of Economics.
  4. Robert Axtell & Robert Axelrod & Joshua M. Epstein & Michael D. Cohen, 1995. "Aligning Simulation Models: A Case Study and Results," Working Papers 95-07-065, Santa Fe Institute.
  5. Leigh Tesfatsion, 2002. "Agent-Based Computational Economics," Computational Economics 0203001, EconWPA, revised 15 Aug 2002.
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  7. David Colander, 2003. "The Complexity Revolution and the Future of Economics," Middlebury College Working Paper Series 0319, Middlebury College, Department of Economics.
  8. Orcutt, Guy H., 1990. "From engineering to microsimulation : An autobiographical reflection," Journal of Economic Behavior & Organization, Elsevier, vol. 14(1), pages 5-27, September.
  9. Williamson, Oliver E, 1988. "The Logic of Economic Organization," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 65-93, Spring.
  10. Foster, John, 1995. "The impact of the self organisation approach on economic science: why economic theory and history need no longer be mutually exclusive domains," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 39(3), pages 393-398.
  11. Nicolaas J. Vriend, 1999. "Was Hayek an Ace?," Working Papers 403, Queen Mary, University of London, School of Economics and Finance.
  12. Schelling, Thomas C, 1969. "Models of Segregation," American Economic Review, American Economic Association, vol. 59(2), pages 488-93, May.
  13. Robert Axelrod, 1997. "Advancing the Art of Simulation in the Social Sciences," Working Papers 97-05-048, Santa Fe Institute.
  14. Kirman, Alan, 1989. "The Intrinsic Limits of Modern Economic Theory: The Emperor Has No Clothes," Economic Journal, Royal Economic Society, vol. 99(395), pages 126-39, Supplemen.
  15. Hahn, Frank, 1991. "The Next Hundred Years," Economic Journal, Royal Economic Society, vol. 101(404), pages 47-50, January.
  16. Arifovic, Jasmina, 1996. "The Behavior of the Exchange Rate in the Genetic Algorithm and Experimental Economies," Journal of Political Economy, University of Chicago Press, vol. 104(3), pages 510-41, June.
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Cited by:
  1. Fontana Magda, 2008. "The complexity approach to economics : a Paradigm shift," CESMEP Working Papers 200801, University of Turin.
  2. Fontana Magda, 2009. "The Santa Fe Perspective on Economics: emerging patterns in the science of complexity," CESMEP Working Papers 200908, University of Turin.
  3. Alessandro Vaglio, 2010. "Economic growth, Koestler cycles and the lock chamber effect," International Review of Economics, Springer, vol. 57(4), pages 369-393, December.
  4. Fontana, Magda, 2010. "Can neoclassical economics handle complexity? The fallacy of the oil spot dynamic," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 584-596, December.

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