Agent-Based Computational Economics: Growing Economies from the Bottom Up
This study outlines the main objectives and defining characteristics of agent-based computational economics (ACE), the computational study of economies modeled as evolving systems of autonomous interacting agents. Similarities and distinctions between ACE and artificial life research are clarified. Eight ACE research areas are identified, and a number of publications in each area are highlighted for concrete illustration. Open questions and directions for future ACE research are also considered. The study concludes with a discussion of the potential benefits of the ACE approach, as well as some potential difficulties. Annotated pointers to related work can be accessed here: http://www2.econ.iastate.edu/tesfatsi/ace.htm
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|Date of creation:||01 Jan 2002|
|Date of revision:|
|Publication status:||Published in Artificial Life 2002, vol. 8 no. 1, pp. 55-82|
|Contact details of provider:|| 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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