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Teaching Agent-Based Computational Economics to Graduate Students

  • Tesfatsion, Leigh S.

Agent-based computational economics (ACE) is roughly defined as the computational study of economies modeled as evolving decentralized systems of autonomous interacting agents. A key focus of ACE research is understanding how global regularities arise from the bottom up, through the repeated local interactions of autonomous agents channeled through socio-economic institutions, rather than from top down coordination mechanisms such as imposed market clearing constraints or an assumption of single representative agents. This paper discusses how ACE materials have been introduced into graduate-level courses in macroeconomic theory over the past several years, using an ACE labor market framework for concrete illustration. Related work can be accessed here: http://www2.econ.iastate.edu/tesfatsi/ace.htm

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File URL: http://www2.econ.iastate.edu/papers/p3755-1998-07-01.pdf
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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 1199.

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Date of creation: 01 Jul 1998
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Handle: RePEc:isu:genres:1199
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Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070

Phone: +1 515.294.6741
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Web page: http://www.econ.iastate.edu
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  5. Ashlock, Daniel & Smucker, Mark D. & Stanley, E. Ann & Tesfatsion, Leigh S., 1996. "Preferential Partner Selection in an Evolutionary Study of Prisoner's Dilemma," Staff General Research Papers 1687, Iowa State University, Department of Economics.
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  12. Leigh TESFATSION, 1995. "A Trade Network Game With Endogenous Partner Selection," Economic Report 36, Iowa State University Department of Economics.
  13. Bullard, James & Duffy, John, 1998. "A model of learning and emulation with artificial adaptive agents," Journal of Economic Dynamics and Control, Elsevier, vol. 22(2), pages 179-207, February.
  14. Holland, John H & Miller, John H, 1991. "Artificial Adaptive Agents in Economic Theory," American Economic Review, American Economic Association, vol. 81(2), pages 365-71, May.
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  18. McFadzean, David & Tesfatsion, Leigh S., 1999. "A C++ Platform for the Evolution of Trade Networks," Staff General Research Papers 1639, Iowa State University, Department of Economics.
  19. David Banks & Kathleen Carley, 1994. "Metric inference for social networks," Journal of Classification, Springer;The Classification Society, vol. 11(1), pages 121-149, March.
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  28. Tesfatsion, Leigh, 1998. "Preferential Partner Selection in Evolutionary Labor Markets: A Study in Agent-Based Computational Economics," Staff General Research Papers 4063, Iowa State University, Department of Economics.
  29. Leigh Tesfatsion, 1998. "Ex Ante Capacity Effects in Evolutionary Labor Markets with Adaptive Search," Labor and Demography 9811003, EconWPA.
  30. Leigh Tesfatsion, 2002. "Agent-Based Computational Economics," Computational Economics 0203001, EconWPA, revised 15 Aug 2002.
  31. Birchenhall, Chris, 1995. "Modular Technical Change and Genetic Algorithms," Computational Economics, Society for Computational Economics, vol. 8(3), pages 233-53, August.
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