Agent-Based Computational Economics: Modeling Economies as Complex Adaptive Systems

Leigh Tesfatsion ()

Staff General Research Papers from Iowa State University, Department of Economics

Abstract: Agent-based computational economics (ACE) is the computational study of economies modeled as dynamic systems of interacting agents. Thus, ACE is a specialization to economics of the basic complex adaptive systems paradigm. This paper outlines the main objectives and defining characteristics of the ACE methodology, and disusses several active application areas. Annotated pointers to related work can be accessed here: http://www.econ.iastate.edu/tesfatsi/ace.htm

Keywords: Agent-based computational economics; complex adaptive systems (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D0 (search for similar items in EconPapers)
Date: 2008-08-19
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Published in Information Sciences, 2003, Vol. 149, pp. 263-269.

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Persistent link: http://EconPapers.repec.org/RePEc:isu:genres:12974

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