This book aims to answer two questions that are fundamental to the study of agent-based economic models: what is agent-based computational economics and why do we need agent-based economic modelling of economy? This book provides a review of the development of agent-based computational economics (ACE) from a perspective on how artificial economic agents are designed under the influences of complex sciences, experimental economics, artificial intelligence, evolutionary biology, psychology, anthropology and neuroscience.

This book begins with a historical review of ACE by tracing its origins. From a modelling viewpoint, ACE brings truly decentralized procedures into market analysis, from a single market to the whole economy. This book also reviews how experimental economics and artificial intelligence have shaped the development of ACE. For the former, the book discusses how ACE models can be used to analyse the economic consequences of cognitive capacity, personality and cultural inheritance. For the latter, the book covers the various tools used to construct artificial adaptive agents, including reinforcement learning, fuzzy decision rules, neural networks, and evolutionary computation.

This book will be of interest to graduate students researching computational economics, experimental economics, behavioural economics, and research methodology.

part |2 pages

PART I Ideas and structures of the book

part |2 pages

PART II Origins of ACE

chapter 3|57 pages

The markets origin

chapter 4|25 pages

Cellular automata

chapter 5|8 pages

Economic tournament origin

part |2 pages

PART III Designing artificial economic agents

chapter 7|9 pages

Calibrated artificial agents

chapter 9|28 pages

Autonomous agents in the DA markets

part |2 pages

PART IV Computational intelligence

chapter 10|12 pages

Reinforcement learning

chapter 11|4 pages

Fuzzy logic and rough sets

chapter 12|26 pages

Artificial neural networks

chapter 13|14 pages

Evolutionary computation

part |2 pages

PART V Agent-based financial markets

part |2 pages

PART VI Cognitive and psychological agent-based modeling

chapter 17|16 pages

Economic significance of personal traits

chapter 18|12 pages

Neuroeconomic agents

chapter 19|14 pages

Cognitive agents

chapter 20|4 pages

Culturally sensitive agents

chapter 21|12 pages

Agent-based lottery market

part |2 pages

PART VII Networks

chapter 22|20 pages

Graphs and social networks

part |4 pages

PART VIII Economics of changes

chapter 23|38 pages

Agent-based modular economy

chapter 24|12 pages