News Notes for
Agent-Based Computational Economics (ACE)
November 1998

Prepared by:
Leigh Tesfatsion
Department of Economics
Iowa State University
Ames, Iowa 50011-1070

ACE Web Site Address:

Appended below are news items that may be of interest to researchers interested in agent-based computational economics (ACE), the computational study of economies modelled as evolving decentralized systems of autonomous interacting agents. Items of more permanent interest will be retained at the ACE Web site.
ACE news notes are anticipated about once every two months during the regular academic year (September-May) but may be distributed more or less often as warranted by the amount of news. Please contact Leigh Tesfatsion ( if you wish to be added or removed from this news list, or if you have any news items you wish to have included in the next ACE news notes. Please do **NOT** use the list address.
Thank you.

News Items

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 well.

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

Book Announcements

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.

Journal Announcements

Note: Pointers to new journals listed below have been incorporated into the journals/publishers page linked to the ACE Web site home page.

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.

Conference Information

Note: The following announcements have been incorporated into the conference page linked to the ACE Web site home page.

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.