Description 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.
Audience
economists
Contents
Preface (L. Tesfatsion, K.L. Judd).
Part 1. ACE research reviews.
1. Agent-based computational
economics: A constructive approach to economic theory (L. Tesfatsion). 2. Computationally intensive analyses in economics (K.L.
Judd). 3. Agent learning representation: Advice on modelling economic learning (T. Brenner). 4. Agent-based models and
human subject experiments (J. Duffy). 5. Economic activity on fixed networks (A.W. Wilhite). 6. ACE models of endogenous
interactions (N.J. Vriend). 7. Social dynamics: Theory and applications (H. Peyton Young). 8. Heterogeneous agent models
in economics and finance (C. Hommes). 9. Agent-based computational finance (B. LeBaron). 10. Agent-based models of innovation
and technological change (H. Dawid). 11. Agent-based models of organizations (M-H. Chang, J.E. Harrington, Jr.). 12. Market
design using agent-based models (R. Marks). 13. Automated markets and trading agents (J.J. MacKie-Mason, M. Wellman). 14.
Computational methods and models of politics (K. Kollman, S.E. Page). 15. Governing social-ecological systems (M.A. Janssen, E.
Ostrom). 16. Computational laboratories for spatial agent-based models (C. Dibble).
Part 2. Perspectives on the ACE
methodology.
Out-of-equilibrium economics and agent-based modeling (W.B. Arthur). Agent-based modeling as a bridge between
disciplines (R. Axelrod). Remarks on the foundations of agent-based generative social science (J.M. Epstein). Coordination
issues in long-run growth (P. Howitt). Agent-based macro (A. Leijonhufvud). Some fun, thirty-five years ago (T.C. Schelling).
Part
3. Guideline for newcomers to agent-based modeling.
A guide for newcomers to agent-based modeling in the social sciences
(R. Axelrod, L. Tesfatsion).
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