scholarly journals Agent-based computational economics: modeling economies as complex adaptive systems

2003 ◽  
Vol 149 (4) ◽  
pp. 262-268 ◽  
Author(s):  
L Tesfatsion
2002 ◽  
Vol 8 (1) ◽  
pp. 55-82 ◽  
Author(s):  
Leigh Tesfatsion

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.


Author(s):  
Professor Michael E. Wolf-Branigin ◽  
Dr William G. Kennedy ◽  
Dr Emily S. Ihara ◽  
Dr Catherine J. Tompkins

Agent based modeling is one of many tools, from the complexity sciences, available to investigate complex policy problems. Complexity science investigates the non-linear behavior of complex adaptive systems. Complex adaptive systems can be found across a broad spectrum of the natural and human created world. Examples of complex adaptive systems include various ecosystems, economic markets, immune response, and most importantly for this research, human social organization and competition / cooperation. The common thread among these types of systems is that they do not behave in a mechanistic way which has led to problems in utilizing traditional methods for studying them. Complex adaptive systems do not follow the Newtonian paradigm of systems that behave like a clock works whereby understanding the workings of each of the parts provides an understanding of the whole. By understanding the workings of the parts and a few external rules, predictions can be made about the behavior of the system as a whole under varying circumstances. Such systems are labeled deterministic (Zimmerman, Lindberg, & Plsek, 1998).


Author(s):  
Dimitri Perrin ◽  
Heather J. Ruskin ◽  
Martin Crane

Biological systems are typically complex and adaptive, involving large numbers of entities, or organisms, and many-layered interactions between these. System behaviour evolves over time, and typically benefits from previous experience by retaining memory of previous events. Given the dynamic nature of these phenomena, it is non-trivial to provide a comprehensive description of complex adaptive systems and, in particular, to define the importance and contribution of low-level unsupervised interactions to the overall evolution process. In this chapter, the authors focus on the application of the agent-based paradigm in the context of the immune response to HIV. Explicit implementation of lymph nodes and the associated lymph network, including lymphatic chain structure, is a key objective, and requires parallelisation of the model. Steps taken towards an optimal communication strategy are detailed.


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