Abstract

LARROSA, Juan Manuel. Computational agents and economic analysis. Rev.econ.inst. [online]. 2016, vol.18, n.34, pp.87-113. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v18n34.07.

Simulation of systems of multiple agents and agent-based modeling deal with virtual entities that interact according to the rules of controlled environments. Thereby, they help to understand the behavior of real economic agents, considering factors such us heterogeneity, spatiality, bounded rationality, among others. Many economic problems can be well modeled with significant results. This article surveys academic work on agent-based approaches in economicsand highlights the promising features as well as the limitations of its implementation.

Keywords : multi-agent system, agent-based simulation, agent-based computational economics, bounded rationality, heterogeneity; JEL: C63, E17, E27, E37, E47, F47, G17.

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