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Artificial Economics - The Generative Method in Economics

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  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. 						

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