Please Note: The old ACE Web site address /abe.htm has been changed to /ace.htm. The complete new ACE Web site address is therefore as follows: http://www.econ.iastate.edu/tesfatsi/ace.htm
Please update your records as the old ACE Web site address will ultimately be eliminated. Thank you, and sorry for any inconvenience this may cause.
Leigh Tesfatsion, Iowa State University
Last Updated: 9 September 1997
Agent-based computational economics (ACE) is roughly characterized as the computational study of economies modelled as evolving decentralized systems of autonomous interacting agents. A central concern of ACE researchers is to understand the apparently spontaneous appearance of global regularities in economic processes, such as the unplanned coordination of trade in decentralized market economies that economists associate with Adam Smith's invisible hand. The challenge is to explain these global regularities from the bottom up, in the sense that the regularities arise from the local interactions of autonomous agents channeled through actual or potential economic institutions rather than through fictitious top-down coordinating mechanisms such as a single representative consumer.
ACE is thus a specialization to economics of the basic artificial life (alife) paradigm. The ACE Web site will therefore incorporate links to materials of interest both for alife research in general and for ACE research in particular.
Below are various Web sites with introductory ACE/alife related materials that researchers might find useful. The ACE Web site is continually under construction, and suggestions for additional materials to include are welcome. An ACE news list has also been created; news postings concerning items of possible interest to ACE researchers are sent out about once a month during the regular academic year, September-May. Please contact Leigh Tesfatsion if you wish to be included (or deleted from) the ACE news list or have news items of interest for ACE researchers. Thank you.