Handbook of Computational Economics - Leigh Tesfatsion, Kenneth L. Judd

Handbook of Computational Economics, Volume 2: Agent-Based Computational Economics (Handbook of Computational Economics)

by. Leigh Tesfatsion, Kenneth L. Judd

The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues.

*Every volume contains contributions from leading researchers
*Each Handbook presents an accurate, self-contained survey of a particular topic
*The series provides comprehensive and accessible surveys

size: 5.66 MB

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Artificial Economics: The Generative Method in Economics - Cesáreo Hernández

Artificial Economics: The Generative Method in Economics (Lecture Notes in Economics and Mathematical Systems, 631)
by. Cesáreo Hernández, Marta Posada, Adolfo López-Paredes

Simulation is used in economics to solve large econometric models, for large-scale micro simulations, and to obtain numerical solutions for policy design in top-down established models. But these applications fail to take advantage of the methods offered by artificial economics (AE) through artificial intelligence and distributed computing. AE is a bottom-up and generative approach of agent-based modelling developed to get a deeper insight into the complexity of economics. AE can be viewed as a very elegant and general class of modelling techniques that generalize numerical economics, mathematical programming and micro simulation approaches. The papers presented in this book address methodological questions and applications of AE to macroeconomics, industrial organization, information and learning, market dynamics, finance and financial markets.

size: 6.95 MB

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