Agent-Based Computational Economics: How The Idea Originated And Where It Is Going by Shu-Heng ChenAgent-Based Computational Economics: How The Idea Originated And Where It Is Going by Shu-Heng Chen

Agent-Based Computational Economics: How The Idea Originated And Where It Is Going

byShu-Heng ChenEditorShu-Heng Chen

Hardcover | September 15, 2015

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This book aims to answer two questions that are fundamental to the study of agent-based economic models: what is agent-based computational economics and why do we need agent-based economic modelling of economy? This book provides a review of the development of agent-based computational economics (ACE) from a perspective on how artificial economic agents are designed under the influences of complex sciences, experimental economics, artificial intelligence, evolutionary biology, psychology, anthropology and neuroscience.

This book begins with a historical review of ACE by tracing its origins. From a modelling viewpoint, ACE brings truly decentralized procedures into market analysis, from a single market to the whole economy. This book also reviews how experimental economics and artificial intelligence have shaped the development of ACE. For the former, the book discusses how ACE models can be used to analyse the economic consequences of cognitive capacity, personality and cultural inheritance. For the latter, the book covers the various tools used to construct artificial adaptive agents, including reinforcement learning, fuzzy decision rules, neural networks, and evolutionary computation.

This book will be of interest to graduate students researching computational economics, experimental economics, behavioural economics, and research methodology.

Shu-Heng Chenis Distinguished Professor at the Department of Economics at National Chengchi University, Taiwan.
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Title:Agent-Based Computational Economics: How The Idea Originated And Where It Is GoingFormat:HardcoverDimensions:528 pages, 9.2 × 6.2 × 1.3 inPublished:September 15, 2015Publisher:Taylor and FrancisLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0415614880

ISBN - 13:9780415614887

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Table of Contents

Part I. Ideas and Structures of the Book1. Economics in an Interdisciplinary Context 2. Agent-Based Modeling in the Social SciencesPart II. Origins of ACE3. The Markets Origin 4. Cellular Automata 5. Economic Tournament Origin 6. Agent-Based Modeling of Economic ExperimentsPart III. Designing Artificial Economic Agents7. Calibrated Artificial 8. Zero-Intelligence Agents in the DA Markets 9. Autonomous Agents in the DAPart IV. Computational Intelligence10. Reinforcement Learning 11. Fuzzy Logic and Rough Sets 12. Artificial Neural Networks 13. EvolutionaryPart V. Agent-Based Financial Markets14. Artificial Financial Markets with Programmed Agents 15. Artificial Financial Markets with Autonomous 16. Empirically-Based Agent-Based ModelsPart VI. Cognitive and Psychological Agent-Based Modeling17. Economic Significance of Personal Traits 18. Neuroeconomic 19. Cognitive Agents 20. Culturally Sensitive Agents 21. Agent-Based Lottery MarketPart VII. Networks22. Graphs and Social Part VIII. Economics of Changes 23. Agent-Based Modular Economy 24. Epilogue

Editorial Reviews

"Chen¿s book is a meticulous scholarly study that should be of particular interest to economists with a good analytical background, a broad acquaintance with economic research, a strong interest in empirically grounded economic modeling, and a willingness to consider alternative viewpoints with an open mind."

Leigh Tesfatsion, Iowa State University, Journal of Economic Literature