The Promises and Perils of Agent-Based Computational Economics

Matteo G. Richiardi ()

No 29, LABORatorio R. Revelli Working Papers Series from LABORatorio R. Revelli, Centre for Employment Studies

Abstract: In this paper I review the main strengths and weaknesses of agent-based computational models. In particular I rationalise the main theoretical critiques, which point to the following problematic areas: (i) interpretation of the simulation dynamics, (ii) estimation of the simulation model, and (iii) generalisation of the results. I show that there exist solutions for all these issues. Moreover, this paper clarifies some confounding differences in terminology between the computer science and the economic literature.

Keywords: Agent-based; Simulation; Microsimulation; Computational Economics; Structural Estimation; Economic methodology. (search for similar items in EconPapers)
JEL-codes: B41 B59 C15 C50 (search for similar items in EconPapers)
Date: 2003
View citations in EconPapers

Downloads: (external link)
http://www.laboratoriorevelli.it/_pdf/wp29.pdf (application/pdf)

Related works:
Working Paper: The Promises and Perils of Agent-Based Computational Economics (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:cca:wplabo:29

Access Statistics for this paper

More papers in LABORatorio R. Revelli Working Papers Series from LABORatorio R. Revelli, Centre for Employment Studies
Contact information at EDIRC.
Series data maintained by Giovanni Bert ().