Artificial Economics The Generative Method in Economics /

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 artifici...

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Bibliographic Details
Corporate Author: SpringerLink (Online service)
Other Authors: Hernǹdez, Cesr̀eo. (Editor), Posada, Marta. (Editor), Lp̤ez-Paredes, Adolfo. (Editor)
Format: Electronic
Language:English
Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2009.
Series:Lecture Notes in Economics and Mathematical Systems, 631
Subjects:
Online Access:https://ezaccess.library.uitm.edu.my/login?url=http://dx.doi.org/10.1007/978-3-642-02956-1
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505 0 # |a Part I: Macroeconomics -- Part II: Industrial Organization -- Part III: Market Dynamics and Auctions -- Part IV: Finance -- Part V: Financial Markets -- Part VI: Information and Learning -- Part VII: Methodological Issues. 
520 # # |a 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. 
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