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Agent Based Computational Economics
Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Starting from initial conditions, specified by the modeler, the computational economy evolves over time as its constituent agents repeatedly interact with each other and learn from these interactions. ACE is therefore a bottom-up culture-dish approach to the study of economic systems. This chapter discusses the key characteristics and goals of the ACEdoi:10.1007/springerreference_60178 fatcat:nesfwgpd45bmdfk73zkg3c4oku