The primary goal of these introductory notes is to promote the clear presentation and rigorous analysis of dynamic economic models, whether expressed in equation or agent-based form.  A secondary goal is to promote the use of state-space modeling with its respect for historical process, for...

Real-world decision-makers are forced to be locally constructive, in the sense that their actions are constrained by the interaction networks, limited information, and computational capabilities at their disposal.  This study poses the following question:  Suppose utility-seeking consumers and...

The primary goal of these introductory notes is to promote the clear presentation and rigorous analysis of dynamic economic models, whether presented in equation or agent-based form.  A secondary goal is to promote the use of state-space modeling with its respect for historical process, for...

The primary goal of these introductory notes is to promote the clear presentation and rigorous analysis of dynamic economic models, whether presented in equation or agent-based form.  A secondary goal is to promote the use of state-space modeling with its respect for historical process, for...

Agent-based Computational Economics (ACE) is the computational study of economic processesmodeled as dynamic systems of interacting agents. This essay discusses the potentialuse of ACE modeling tools for the study of macroeconomic systems. Points are illustratedusing an ACE model of a two-sector...

Abstract not available

This study provides a basic introduction to agent-based modeling (ABM) as a powerful blend of classical and constructive mathematics, with a primary focus on its applicability for social science research.  The typical goals of ABM social science researchers are discussed along with the...

This essay discusses the potential relevance of artificial life research for the study of economic processes.

This chapter reviews work by the authors on the multicriteria Flexible Least Squares (FLS) approach to model estimation. Related work can be accessed here: http://www.econ.iastate.edu/tesfatsi/flshome.htm

Nonlinear AC Optimal Power Flow (OPF) problems are commonly approximated by linearized DC OPF problems to obtain real power solutions for restructured wholesale power markets. We first present a standard DC OPF problem, which has the numerically desirable form of a strictly convex quadratic...