- 1. ACE One of Nine Special Interest Groups under SCE Umbrella
- The Society of Computational Economics (SCE) now highlights
nine special interest groups (SIGs) on the SCE home page at
These nine SIGs are: agent-based computational economics (ACE); computational
econometrics and statistics; computational finance; computational macro
modelling; computational political economy; economic dynamics; internet
economics; programming languages; and teaching methods for computational
economics. Web sites are either under construction or in operation for many
of these SIGs whose purpose will be to provide an entry point where
interested researchers new to the SIG area can find pointers to relevant and
useful resource materials. Overlap among the SIGs will be handled by
appropriate cross-referencing of sites.
- 2. 1998-99 SCE Graduate Student Prize in Computational Economics
- The Society of Computational Economics (SCE) announces its
sponsorship of its second annual contest for outstanding research manuscripts
in computational economics written by graduate students. The contest is open
to graduate students worldwide working on any aspect of computational
economics. Up to three prizes will be awarded, each for $1000. Manuscript
submissions must be received by March 1, 1999. For more information, visit
the SCE Web site at
- 3. Address Change For Al Roth's Web Site
- Al Roth's Game Theory and Experimental Economics Page
has moved (along with Al Roth) to Harvard University. The new Web
site address is
- 4. A New Game Theory Society
- An international society for the advancement of game theory and
its applications, to be called the Game Theory Society, is slated to begin
operations on January 1, 1999. The society will have two official journals,
Games and Economic Behavior and the International Journal of Game
Theory, which will be available to members as privileges of membership.
- For 1999, regular membership dues will be approximately $75, with
reduced rates being available for students, people from lesser developed
countries, and people who do not want the full subscription to both journals.
Initial officers of the society are: Robert J. Aumann, President; Ehud
Kalai, Executive Vice President; and Eric van Damme, Secretary and
Treasurer. For more information and for enrollment forms, please see the
Game Theory Society Web site at
- 5. Call for Beta Testing of an Evolutionary-Oriented Game Theory Text
- Herbert Gintis (University of Massachusetts, Amherst, U.S.A.) is
in the final stages of preparation of a game theory text entitled Game
Theory Evolving, to be published by Princeton University Press in 1999.
The text is strongly problem-oriented, stresses evolutionary dynamics, covers
biology as well as economics, and uses artificial life simulations to
highlight the low rationality aspect of game dynamics and to emphasize the
need for better models of the individual actor, given the anomalies in the
predictions of the traditional model of the rational actor uncovered in
laboratory experiments in dictator, trust, ultimatum, bargaining, common pool
resource, and other games. The text is stand-alone for graduate students,
but contains many examples that would be useful for undergraduate courses as
- Gintis would like people to beta test the material, if they are
so inclined. To this end, he has made chapters of the text available at his
Web site at
in hopes of getting feedback from interested users by email or by letter. He
is especially interested in three issues: (a) are there mistakes in the
text; (b) are there ways to improve the formulation of a problem or issue;
and (c) has he given proper attribution to authors for particular problems
that he has adapted from published sources.
- 6. Workshop on Agent-Based Modeling of Financial Markets
- The First Workshop on Agent-based Modeling of Financial Markets
was held on November 17, 1998 in Washington, DC, organized by Michael de la
Maza and other members of the Redfire Capital Management Group (Cambridge,
Massachusetts, U.S.A.). Approximately thirty people listened to talks given
by four speakers: Blake LeBaron of Brandeis University, Thor Sigvaldason and
Bernhard Borges of PricewaterhouseCoopers, David Collings of BT Labs, and
Richard Pryor of Sandia National Laboratories. Following the invited talks,
the audience engaged in a discussion about the future role of agent-based
methods in understanding financial markets. For more information about this
workshop, contact the Redfire Capital Management Group at
Note: The following book announcements have been incorporated
into the syllabus of readings linked to the ACE Web site home page;
links to publishers (for ordering purposes) can be found on the
journals/publishers page linked to the ACE Web site home page.
- Kenneth L. Judd, Numerical Methods in Economics, MIT Press,
Cambridge, MA, c. 1998, 622 pp., ISBN 0-262-10071-1.
- From the publisher: "Advances in computer technology and
computational methods have made possible serious empirical analysis of large
data sets, as well as the application of computer-intensive statistical
methods. In order to harness the full power of this technology, economists
need to understand and use a broad range of mathematical techniques. In this
new text, Kenneth Judd introduces students to critically important numerical
methods and shows how to use them in economic analyses."
- Chapter topics include: basic numerical analysis on Euclidean
n-space; numerical methods for functional problems; perturbation methods; and
applications to dynamic equilibrium analysis. A Web site is currently under
that will provide various supporting materials for users of Judd's text.
- Judd is a Senior Fellow at the Hoover Institution of War,
Revolution, and Peace, Stanford University.
- Herbert A. Simon, Models of Bounded Rationality, Volume 3:
Empirically Grounded Economic Reason, MIT Press, Cambridge, MA, c. 1997,
336 pp., ISBN: 0-262-19372-8.
- From the publisher: "Throughout Herbert Simon's wide-ranging career
his central aim has been to explain the nature of the thought processes that
people use in making decisions. The third volume of Simon's collected papers
... (brings) together work on this and other economics-related topics
that have occupied his attention in the 1980s and 1990s: how to represent
causal ordering formally in dynamic systems, the implications for society of
new electronic information systems, employee and managerial motivation in the
business firm (specifically the implications for economics of the propensity
of human beings to identify with the goals of the organization), and the state
of economics itself."
- Frank Schweitzer and Gerald Silverberg (eds.), Evolution and
Self-Organization in Economics, Duncker and Humblot, Berlin, 1998, ISBN
- From the editors: "(This book) includes (among others) review
articles about modelling complex economic evolution, especially with respect
to simulation methodology and agent-based computational economics models."
- A complete table of contents for the book can be found at
Schweitzer is currently at the Institute of Physics, Humboldt
University, Berlin. Silverberg is at MERIT, Maastricht, the Netherlands.
- Frank Schweitzer (ed.), Self-Organization of Complex Structures:
From Individual to Collective Dynamics, Gordon and Breach Science
Publishers, c. 1997, 596 pp., ISBN: 90-5699-027-6.
- From the editor: "The collection of articles found in (this)
book aims to link the discussion about complex phenomena in natural sciences,
such as physics and biology, to those in life sciences, such as sociology,
economics, and regional planning. The book contains a wide range of
applications in the evolving field of self-organization and complexity
- A complete table of contents for the book can be found at
Schweitzer is currently at the Institute of Physics, Humboldt
- John H. Holland, Emergence: From Chaos to Order,
Addison-Wesley, Redwood City, California, 1998, ISBN 0-201-14943-5.
- The basic objective of this book is to characterize the conditions
for emergence and in this way provide a definition for the term. An
extensive review of this book by Tony Curzon Price (University College
London) appears in Volume 1, Issue 4, of the online Journal of Artificial
Societies and Social Simulation (JASSS), available at
- Stephen J. Read and Lynn C. Miller (eds.), Connectionist Models
of Social Reasoning and Social Behavior, Lawrence Erlbaum Associates,
Mahway, New Jersey, 1998, ISBN 0-8058-2216-X.
- This collection of readings focuses on a variety of topics related
to the connectionist modelling of social systems, e.g., why connectionist
models provide useful tools for interpreting the experimental findings of
social psychology. Deborah Vakas-Duong (Agent-Based Learning Systems,
Annandale, Virginia) provides a detailed critique of this book in particular
and the epistemology of social simulation in general in Volume 1, Issue 4, of
the online Journal of Artificial Societies and Social Simulation
(JASSS), available at
- Robert Trappl and Paolo Petta (eds.), Creating Personalities for
Synthetic Actors: Towards Autonomous Personality Agents, Springer-Verlag,
Berlin, 1997, ISBN 3-540-62735-9.
- This collection of readings is devoted to the implementation and
study of personality and character traits in synthetic actors. Applications
range from animations for entertainment to systematic attempts to understand
the origins and functions of sentiment and emotion in humans. A critical
review of this book by Rosaria Conte (IP/CNR, Rome) appears in Volume 1,
Issue 4 of the online Journal of Artificial Societies and Social
Simulation (JASSS), available at
Note: Pointers to new journals listed below have been
incorporated into the journals/publishers page linked to the ACE Web
site home page.
- Reminder: Special ACE Issues of Computational Economics and the
Journal of Economic Dynamics and Control
- Papers on ACE-related topics are solicited for possible
inclusion in a special ACE issue of Computational Economics
and for a special ACE issue of the Journal of Economic Dynamics
and Control (Section A: Computational Methods in Economics and
Finance). Each submitted paper should address a clearly defined
issue of economic interest from an agent-based perspective. The
deadline for receipt of paper submissions is July 30, 1999; all
papers will be refereed. Two hard copies of each submitted paper
should be sent by July 30, 1999, to the guest editor: Leigh
Tesfatsion, Department of Economics, 260 Heady Hall, Iowa State
University, Ames, IA 50011-1070, U.S.A.
- Additional information about the two special ACE journal
issues, including detailed guidelines for paper submissions, can be
- New Issue Available Online for the Journal of
Artificial Societies and Social Simulation (JASSS)
- The fourth and final issue of Volume 1 of the online journal JASSS
is now available at the JASSS Web site at
In addition to an unusually detailed collection of book reviews (see
above), the issue includes refereed articles by Scott Moss, by David Hales,
and by Rafael Bordini, John Campbell and Renata Vieira. Submissions for the
next issue, which will be published in January 1999, are welcome. For more
information, visit the JASSS Web site.
- New Journal Announcement: Netnomics
- A new peer-reviewed journal, Netnomics: Computer Networking and
Economics, edited by Hans Amman (Department of Economics, University of
Amsterdam and Tinbergen Institute, the Netherlands), is being published by
Baltzer Science Publishers.
- Paraphrased introduction from the Editor: As electronic networking
grows in importance, it will create new opportunities for economic research.
The availability of economic data at a micro and macro level, both in real
time and online, will make it possible to test economic issues and economic
theory that are not currently possible to test. As more and more
transactions are carried out electronically, new economic issues and problems
will start to arise. In the longer run we may see that a networked real-time
macroeconomy will emerge with its own set of economic characteristics. The
new journal Netnomics is intended to be an outlet for research in this
emerging field of economics. The first issue is planned for Spring 1999.
Topics that could be addressed by the journal in the immediate future are:
pricing schemes for electronic services; electronic trading systems; data
mining and high frequency data; real time forecasting and filtering; economic
software agents; distributed database applications; digi-ecash systems; and
- Electronic submissions are encouraged in (La)TeX or other formats,
by email or through anonymous ftp at ftp://ftp.baltzer.nl, directory
incoming/netnomics. For additional information about this new journal,
contact the editor Hans Amman at
- New Journal Announcement: International Game Theory Review
- A new refereed quarterly journal, International Game Theory
Review (IGTR), has recently been established by World Scientific. The
editors are David W. K. Yeung (Managing Editor, School of Economics and
Finance, University of Hong Kong), Steffen Jorgensen (Department of
Management, Odense University, Denmark), and Leon Petrosjan (Faculty of
Applied Mathematics, St. Petersburg State University, Russia).
- From the publisher: "IGTR emphasizes rigorous analysis, and
will offer up-to-date insights and perspectives through original research in
game theory and its applications. It welcomes game-oriented papers from all
fields of study. IGTR will publish both original articles and
state-of-the-art surveys, and will seek to maintain a balanced orientation
between game-theoretic modeling and practical implications. Theoretical
significance as well as empirical relevance are key criteria for acceptance
of an article, and IGTR will be accessible to readers from a wide
range of disciplines."
- For further information about this new journal, visit the
home page of World Scientific at
Additional ACE-Related Web Sites
Note: Pointers to the following Web sites have been
incorporated into the "other ACE-related Web sites" page linked to
the ACE Web site home page.
- Nelson and Winter (1982) Model in Java
- The Nelson and Winter (1982) Model Web site at
maintained by Murat Yildizoglu (University of Strasbourg), provides a Java
applet that implements the basic industry dynamics model of Richard Nelson
and Sidney Winter (An Evolutionary Theory of Economic Change, Harvard
University Press, 1982). The purpose of this student-oriented site is to
permit interested parties to experiment with the model and acquire an
introduction to basic evolutionary dynamics.
- Center for Adaptive Behavior and Cognition
- The Center for Adaptive Behavior and Cognition is directed by Prof.
Dr. Gerd Gigerenzer (Max Planck Institute, Berlin), one of the most
well-known and articulate critics of the model of the perfectly rational
human being claimed to be implicit in the work of Daniel Kahneman, Amos
Tversky, and other researchers investigating perceived anomalies in
experimentally observed human decision making under uncertainty.
- From the Center's Web site: "The Center for Adaptive Behavior and
Cognition (ABC) is focused on the discovery and study of the simple cognitive
`satisficing' algorithms that people use to solve adaptive problems in
specific real-world domains, like avoiding dangers, choosing mates, and
investing in offspring. ABC takes an evolutionarily-inspired view of the
mind as a collection of these task-specific algorithms and modules, rather
than as a general-purpose problem solver. In the past, studies of human
rationality have relegated the human mind to the status of a more or less
flawed logical or probabilistic reasoner. In contrast, the ABC program
investigates how our cognitive abilities may be highly tuned to the problems
they must solve..."
- For more information about this research group, visit the
ABC Web site at
- Evolving Artificial Moral Ecologies
- A Web site on Evolving Artificial Moral Ecologies (EAME) is
maintained by Peter Danielson and Chris MacDonald (Centre for Applied Ethics,
University of British Columbia) at
From the Web site introduction: "EAME differs from previous approaches to
participatory environmental modelling in three respects. First, our models
include explicitly moral elements... So one can raise questions like:
what kinds of resources will selfish agents exhaust? Will altruistic agents
do likewise? How about promise (or social contract) keeping agents? ...
Second, we use our recent research in rationality, evolution, and moral
theory to focus on populations with varied ethical perspectives and
differing local conditions. ... Third, EAME's graphic interface eases access
by visualizing complex phenomena, and networking via the World Wide Web makes
EAME into a collaborative experiment in environmental ethics."
Note: The following announcements have been incorporated into
the conference page linked to the ACE Web site home page.
- Call for Papers for the 4th Workshop on Economics with
Heterogeneous Interacting Agents (WEHIA-99)
- Papers are solicited for the 4th Workshop on Economics with
Heterogenous Interacting Agents (WEHIA-99) to be held 4-5 June, 1999 in
Genoa, Italy. WEHIA-99 offers an opportunity to present the latest research
on the representation of the economy as a complex system made up of multiple
heterogeneous interacting agents. Research from various domains - statistical
mechanics, thermodynamics, learning, the theory of self- organizing systems,
econometrics and macroeconomic theory - is called into play. Papers
presenting analysis of empirical data are welcome.
- The deadline for paper submissions is February 20, 1999. Additional
information about WEHIA-99 can be obtained at the symposium Web site at
- CEF99 Call for Papers for a Special Session on Estimating and
Simulating Models with Explicit Expectations
- Papers are solicited on the estimation, use, and validation of
models with explicit expectations for a special session, "Issues in
Estimating and Simulating Models with Explicit Expectations," to be included
in the program of the 1999 International Conference of the Society for
Computational Economics on Computing in Economics and Finance (CEF99) to be
held at Boston College, Chestnut Hill, Massachusetts, U.S.A., June 24-6,
1999. Authors wishing to present a paper in this special session are invited
to submit an abstract (not more than two pages) by January 15, 1999.
Submissions may be in either hard copy or electronic form. Please send
e-mail abstracts (ASCII or LaTeX preferred) to Sharon Kozicki (email@example.com), Michael Binder (firstname.lastname@example.org), or Peter Tinsley (email@example.com).
- General CEF99 conference information can be obtained at the CEF99
Web site at
- CEF99 Call for Papers for a Special Session on Evolutionary Computation
in Economics and Finance
- Papers are solicited for a special session, "Evolutionary
Computation in Economics and Finance," to be included in the program of the
1999 International Conference of the Society for Computational Economics on
Computing in Economics and Finance (CEF99) to be held at Boston College,
Chestnut Hill, Massachusetts, U.S.A., June 24-6, 1999. Papers addressing
novel applications of genetic algorithms, genetic programming, evolutionary
programming, and evolutionary artificial neural nets to economics, game
theory and finance are all welcome; the deadline for paper submissions is
January 15, 1999. Papers presented at this special session will be refereed
for possible inclusion in a volume entitled Evolutionary Computation in
Economics and Finance, to be published by Springer-Verlag.
- Interested participants can obtain more information about this
special session, including submission details, at
- CEF99 Call for Papers for Special Sessions on Economic Dynamics
- Papers are solicited for special sessions on "Economic Dynamics" to
be included in the program of the 1999 International Conference of the
Society for Computational Economics on Computing in Economics and Finance
(CEF99) to be held at Boston College, Chestnut Hill, Massachusetts, U.S.A.,
June 24-6, 1999. To provide some examples, Economic Dynamic sessions in
previous years have covered topics such as macroeconomic dynamics, bounded
rationality and learning, rational expectations models, economic growth,
dynamic economic modeling, innovation and pricing, economic dynamics and
adjustment costs and macroeconomic policymaking.
- If you would like to participate in these sessions, please send an
abstract by December 31, 1998, to one of the following email addresses:
Volker Wieland (Federal Reserve Board,
firstname.lastname@example.org); Emilio Barucci (University of Florence, email@example.com); or Theo
Eicher (University of Washington, Seattle, firstname.lastname@example.org).
- Fourth International Conference on GeoComputation
- The Fourth International Conference on GeoComputation
will be held at Mary Washington College, Fredericksburg, Virginia, U.S.A,
25-28 July 1999.
- GeoComputation 99 focuses on a range of computational research
relating to geographic form, dynamics, and interaction. As such, it draws
from a range of disciplines, including geography, computer science,
artificial intelligence, mathematics, statistics, remote sensing, and
visualization. Specific areas of interest include, but are not restricted
to: artificial intelligence (expert systems, neural and fuzzy modeling);
visualization, virtual reality, and multimedia; process-based modeling;
macro-modeling, micro-modeling, and scaling; and developing distributed
computing environments for geographical data processing.
- Additional information about GeoComputation 99 can be obtained
at the conference Web site at
Reminder: Items Requested for ACE News Notes and Complexity
Just a reminder that if you have any ACE-related news items, or
any information about ACE-related teaching materials, software, books,
articles, journals, or conferences that you would like to have considered for
inclusion in the ACE news notes, and/or the Complexity-at-Large section of
the John Wiley journal Complexity, please email them to me (along with
Web site information if available) at the following address:
Copyright © 1998 Leigh Tesfatsion. All Rights Reserved.