Agent-Based Computational Economics: An Introduction

Research output: Contribution to book/anthology/report/conference proceedingBook chapterResearch


This chapter argues that the economic system is best perceived as a complex adaptive system, and as such, the traditional analytical methods of economics are not optimal for its study. Agent-based computational economics (ACE), studies the economic system from the bottom up and recognizes interaction between autonomous agents as the central mechanism in generating the self-organizing features of economic systems.
Original languageEnglish
Title of host publicationHandbook of Research on Nature-Inspired Computing for Economics and Management
EditorsJean-Philippe Rennard
Number of pages15
VolumeVolume 1
Place of PublicationHershey and London
PublisherIdea Group Reference
Publication date2006
ISBN (Print)1591409845
ISBN (Electronic)1591409853
Publication statusPublished - 2006
Externally publishedYes


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