Agent-based computational economics : A constructive approach to economic theory

By Leigh Tesfatsion. 2006

845 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/e8a45f7d73710e2d966a0c9ac335ddd00664e1a1

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Citations in the corpus

Productivity and Structural Change: A Review of the Literature (2008, methodology): “Promising candidates are agent-based computational models analyzed by simulation methods (see Tesfatsion (2006) for an overview).”
Agent-based Computational Finance (2006, background): “4See Tesfatsion (forthcoming 2005) for more extensive definitions of agent-based approaches in economics.”
EURACE: A massively parallel agent-based model of the European economy (2008, background): “For an overview of main developments in ACE research over the last 15 years see [10].”
The Complexity Era in Economics (2011, background): “This approach emphasizes dispersed and interacting, heterogeneous agents (Arthur, Durlauf, and Lane, 1997; Hommes, 2006; Tesfatsion, 2006), and for many economists this is what they mean when they refer to “complexity models.”
NEW DIRECTIONS FOR URBAN ECONOMIC MODELS OF LAND USE CHANGE: INCORPORATING SPATIAL DYNAMICS AND HETEROGENEITY (2010, neutral): “The description of ACE models here is based on the discussion by Tesfatsion (2006).”
Theoretical foundations of human decision-making in agent-based land use models - A review (2017, background): “In order to obtain a de ﬁ nition of ‘ all relevant information ’ that is useful in the context of ABMs, we deviate from its standard economic de ﬁ nition and use it in the sense of all information that the model can provide (Tesfatsion, 2006).”
Climate change and internal migration patterns in Bangladesh: an agent-based model (2012, background): “Researchers in a variety of fields have sought new approaches to model complex adaptive systems (Boccara, 2004; Rosser, 2009; Xepapadeas, 2010) and ABMs have emerged as a promising research stream (Epstein, 2006; Tesfatsion, 2006).”
Describing human decisions in agent-based models - ODD + D, an extension of the ODD protocol (2013, methodology): “Because we are considering ABMs, our first task is to clarify our definition of the term “agent”: Following the definition given in Tesfatsion (2006), we define an agent as “bundled data and behavioural methods representing an entity constituting part of a computationally constructed world”.”
Micro and macro policies in the Keynes+Schumpeter evolutionary models (2016, positive): “Rooted in the evolutionary (Nelson and Winter 1982, see also; Dosi et al. 1988) and agent-based (e.g. Tesfatsion 2006) perspectives3, the K+S models encompass both Schumpeterian and Keynesian elements.”
A review of agent‐based modeling of climate‐energy policy (2020, neutral): “…1Alternative terms are “agent-based complex systems” (Grimm et al., 2005), “individual based models” (Grimm & Railsback, 2005), “agent-based computational economics” (Tesfatsion, 2006), “complex adaptive systems” (Miller & Page, 2007), and “multi-agent systems” (Heckbert, Baynes, & Reeson, 2010).”
More is different ... and complex! the case for agent-based macroeconomics (2019, background): “A natural alternative candidate is agent-based computational economics (ACE, Tesfatsion, 2006; LeBaron and Tesfatsion, 2008; Fagiolo and Roventini, 2017; Dawid and Delli Gatti, 2018; Caverzasi and Russo, 2018), which straightforwardly embeds heterogeneity, bounded rationality, endogenous…”