Agent-Based Computational Economics: Growing Economies from the Bottom Up

Leigh Tesfatsion ()

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

Abstract: 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

JEL-codes: C6 D E (search for similar items in EconPapers)
Date: 2002-01-01
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Citations: View citations in EconPapers (169)

Published in Artificial Life 2002, vol. 8 no. 1, pp. 55-82

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Related works:
Working Paper: Agent-Based Computational Economics: Growing Economies from the Bottom Up (2002)
Working Paper: Agent-Based Computational Economics: Growing Economies from the Bottom Up (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:5075

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