Campus Units

Economics

Document Type

Book Review

Publication Version

Published Version

Publication Date

12-2016

Journal or Book Title

Journal of Economic Literature

Volume

54

Issue

4

First Page or Article ID Number

1394

Last Page

1395

DOI

10.1257/jel.54.4.1390

Abstract

Agent-based computational economics (ACE) is the computational modeling of economic processes (including whole economies) as openended dynamic systems of interacting agents (Tesfatsion 2016a). In this book, author Shu-Heng Chen—an important pioneering contributor to the development of ACE—undertakes a detailed exposition of the ACE modeling approach that focuses on two fundamental questions. First, what is ACE? Second, to what extent is ACE useful, or even necessary, for understanding economic processes?

Comments

This is a review of an article published as Review of Agent-Based Computational Economics: How the Idea Originated and Where It Is Going, by Shu-Heng Chen, Routledge: New York, in: Journal of Economic Literature 54(4), 2016, 1394-1395. doi: 10.1257/jel.54.4.1390. Posted with permission.

Copyright Owner

American Economic Association

Language

en

File Format

application/pdf

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