Agent-based Computational Economics News & Articles
Selected news and articles about research and developments in Agent-based Computational Economics: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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