Agent-based computational economics (ACE)



Agent-based computational economics (ACE) is the computational modeling of economic processes as open-ended dynamic systems of interacting agents. Examples of possible agents include: individuals, social groups, institutions, biological and physical entities, and then agents can range from passive system features to active data-gathering decision makers capable of sophisticated learning. No resort to externally imposed global coordination, such as market clearing and rational expectations constraints, is needed to drive or support the dynamics of this world. Visit the website supervised by Leigh Tesfatsion (

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