The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of...

This paper creates an artificial stock market, from a minimalist heterogeneous agent model of futures speculation on a non-storable commodity, with real time gross settlement. All agents have risk neutral preferences and stochastic adaptive expectations according to different trader types...

We propose a model to simulate the process of opinion formation in a society where the traditional division into leftists and rightists is not enough any longer. The model is based on the Ashkin–Teller idea to assign two Ising spins to each site (agent). The two states (up and down) of the...