Agent-based computational economics: modeling economies as complex adaptive systems

Leigh Tesfatsion ()

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

Abstract: Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous 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 discusses several active research areas.

Date: 2003-01-01
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Working Paper: Agent-Based Computational Economics: Modeling Economies As Complex Adaptive Systems (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genstf:200301010800001423

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