Campus Units

Economics

Document Type

Article

Publication Version

Published Version

Publication Date

2002

Journal or Book Title

Artificial Life

Volume

8

Issue

1

First Page or Article ID Number

55

Last Page

82

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 of economics of the basic complex adaptive systems paradigm. This study outlines the main objectives and defining characteristics of the ACE methodology and discusses similarities and distinctions between ACE and artificial life research. 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 associated with ACE modeling, as well as some potential difficulties.

Comments

This is an article from Artificial Life 8 (2002): 55. Posted with permission.

Copyright Owner

Massachusetts Institute of Technology

Language

en

File Format

application/pdf

Working Paper

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