Agent-based Computational Economics News & Articles
Selected news and articles about research and developments in Agent-based Computational Economics:21 Sep 11 - Recent advances in the field
Two events took place recently that illustrate some advances and promising results in
Agent-based Computational Economics. Among these are coordinated efforts to develop standards for
the description, specification and validation of agent-based models to help establishing common
structures in the field that may facilitate more communication and comparison between different
models. Also, ACE simulations are now increasingly used to test theoretical models or to investigate
their properties when analytical solutions are not possible and more attention is going towards usage by
policy-makers.
- GSDP Agent-based modeling workshop (8-10 September 2011, Paris)
- Artificial Economics 2011 Conference (1-2 September 2011, The Hague)
31 Jan 11 - Simulating worst-case scenarios
Johns Hopkins University has launched the Center for Advanced Modeling
(CAM) in the Social, Behavioral and Health Sciences. The center, led by
professor Joshua Epstein, is aimed at research and applied work in the
field of agent-based modeling for simulations that could help predict
how societies will react to disasters such as infectious disease outbreaks,
natural disasters or economic turmoil.
Full article from Johns Hopkins Gazette
22 Jul 10 - Agents of change: Conventional economic models failed to foresee
the financial crisis. Could agent-based modeling do better?
Policy makers and advisors question the use of conventional economic
models by the FED and other central banks for national economic policy
and discuss the possibilities for using large-scale agent-based models
for understanding and predicting financial crises.
Full article from
The Economist
3 Dec 09 - New software to simulate future financial crises
New simulation software from the EU-funded
EURACE research project aims to predict
future banking crises or other economic turmoil. The software applies simulation
technology called FLAME (Flexible Large-scale Agent Modeling Environment) to predict
the interaction between large populations of different economic actors such as consumers,
companies and banks. The software is meant to enable better testing of a government
policy's effects on the economy while still on the drawing board.
Full article from
PhysOrg.com
6 Aug 09 - The economy needs agent-based modeling
According to J. Doyne Farmer and Duncan Foley (The New School for Social Research),
economic policy-makers should use
agent-based models instead of flawed econometric models that are fitted to past
data or dynamic stochastic general equilibrium models that assume a perfect world.
Full article from Nature
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