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Agent-Based Computational Economics - How the idea originated and where it is going (Paperback)
Loot Price: R1,439
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Agent-Based Computational Economics - How the idea originated and where it is going (Paperback)
Series: Routledge Advances in Experimental and Computable Economics
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Total price: R1,459
Discovery Miles: 14 590
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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.
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