Tesfatsion, Leigh

Information Sciences Vol. 149 (2003): 263-269.

Agent-based computational economics (ACE) is the computational study of economies modeled as dynamic systems of 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 disusses several active application areas. Annotated pointers to related work can be accessed here: http://www.econ.iastate.edu/tesfatsi/ace.htm

JEL Classification: C6, D, E

Keywords: agent-based computational economics, complex adaptive systems