Artificial Economics

Know about the book -

Artificial Economics is written by Cesáreo Hernández and published by Springer Science & Business Media. It's available with International Standard Book Number or ISBN identification 3642029566 (ISBN 10) and 9783642029561 (ISBN 13).

Simulation is used in economics to solve large econometric models, for large-scale micro simulations, and to obtain numerical solutions for policy design in top-down established models. But these applications fail to take advantage of the methods offered by artificial economics (AE) through artificial intelligence and distributed computing. AE is a bottom-up and generative approach of agent-based modelling developed to get a deeper insight into the complexity of economics. AE can be viewed as a very elegant and general class of modelling techniques that generalize numerical economics, mathematical programming and micro simulation approaches. The papers presented in this book address methodological questions and applications of AE to macroeconomics, industrial organization, information and learning, market dynamics, finance and financial markets.