Tesfatsion & Judd. (2006). Handbook of Computational Economics.


The explosive growth in computer power over the past several decades offers new tools and opportunities for economists. Volume 1 of the Handbook of Computational Economics [Amman et al. (1996)] surveyed the growing literature on computational methods for solving standard economic models such as Arrow–Debreu–McKenzie gen- eral equilibrium models and rational expectations models. This second volume focuses on Agent-based Computational Economics (ACE), a computationally intensive method for developing and exploring new kinds of economic models.