Agent-Based Computational Economics

Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Starting from initial conditions, specified by the modeler, the computational economy evolves over time as its constituent agents repeatedly interact with each other and learn from these interactions. ACE is therefore a bottom-up culture-dish approach to the study of economic systems. This study discusses the key characteristics and goals of the ACE methodology. Eight currently active research areas are highlighted for concrete illustration. Potential advantages and disadvantages of the ACE methodology are considered, along with open questions and possible directions for future research.Agent-based computational economics; Autonomous agents; Interaction networks; Learning; Evolution; Mechanism design; Computational economics; Object-oriented programming.

Adaptive microfoundations for emergent macroeconomics

In this paper we present the basics of a research program aimed at providing microfoundations to macroeconomic theory on the basis of computational agentbased adaptive descriptions of individual behavior. To exemplify our proposal, a simple prototype model of decentralized multi-market transactions is offered. We show that a very simple agent-based computational laboratory can challenge more structured dynamic stochastic general equilibrium models in mimicking comovements over the business cycle.Microfoundations of macroeconomics, Agent-based economics, Adaptive behavior

Poverty Traps

no abstract given.Poverty

Adaptive Cognitive Interaction Systems

Adaptive kognitive Interaktionssysteme beobachten und modellieren den Zustand ihres Benutzers und passen das Systemverhalten entsprechend an. Ein solches System besteht aus drei Komponenten: Dem empirischen kognitiven Modell, dem komputationalen kognitiven Modell und dem adaptiven Interaktionsmanager. Die vorliegende Arbeit enthält zahlreiche Beiträge zur Entwicklung dieser Komponenten sowie zu deren Kombination. Die Ergebnisse werden in zahlreichen Benutzerstudien validiert

Agent-Based Models and Human Subject Experiments

This paper considers the relationship between agent-based modeling and economic decision-making experiments with human subjects. Both approaches exploit controlled ``laboratory'' conditions as a means of isolating the sources of aggregate phenomena. Research findings from laboratory studies of human subject behavior have inspired studies using artificial agents in ``computational laboratories'' and vice versa. In certain cases, both methods have been used to examine the same phenomenon. The focus of this paper is on the empirical validity of agent-based modeling approaches in terms of explaining data from human subject experiments. We also point out synergies between the two methodologies that have been exploited as well as promising new possibilities.agent-based models, human subject experiments, zero- intelligence agents, learning, evolutionary algorithms

Proceedings of The Multi-Agent Logics, Languages, and Organisations Federated Workshops (MALLOW 2010)

http://ceur-ws.org/Vol-627/allproceedings.pdfInternational audienceMALLOW-2010 is a third edition of a series initiated in 2007 in Durham, and pursued in 2009 in Turin. The objective, as initially stated, is to "provide a venue where: the cost of participation was minimum; participants were able to attend various workshops, so fostering collaboration and cross-fertilization; there was a friendly atmosphere and plenty of time for networking, by maximizing the time participants spent together"

An Agent-Based Computational Approach to "The Adam Smith Problem"

This paper uses agent-based modeling to investigate the philosophy of Adam Smith. During his lifetime, Smith published two books. In An Inquiry into the Nature and Causes of the Wealth of Nations (1776), he argued that market behavior was dictated primarily by self-interest. However, his earlier book, The Theory of Moral Sentiments (1759), placed sympathy and benevolence at the center of human social psychology. Reconciling these apparently contradictory views is known as the Adam Smith Problem. This study uses an agent-based model to combine Smith’s theories, exploring how social norms affect economic behavior, and vice versa. Although they share many basic assumptions, Smith’s works leave important questions unanswered: Theory of Moral Sentiments offers a strong model of how social norms consolidate but lacks a coherent explanation for how norms change over time, and, on the other side, Wealth of Nations does not account for the influence of social norms on commercial transactions nor for the durability of seemingly irrational norms in a context of market competition. Considering both theories together in a single model sheds light on their underlying tensions and exposes instabilities that Smith did not anticipate

Manifesto of computational social science

The increasing integration of technology into our lives has created unprecedented volumes of data on society’s everyday behaviour. Such data opens up exciting new opportunities to work towards a quantitative understanding of our complex social systems, within the realms of a new discipline known as Computational Social Science. Against a background of financial crises, riots and international epidemics, the urgent need for a greater comprehension of the complexity of our interconnected global society and an ability to apply such insights in policy decisions is clear. This manifesto outlines the objectives of this new scientific direction, considering the challenges involved in it, and the extensive impact on science, technology and society that the success of this endeavour is likely to bring about