© 2011

Emergent Results of Artificial Economics

  • Sjoukje Osinga
  • Gert Jan Hofstede
  • Tim Verwaart

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 652)

Table of contents

  1. Front Matter
    Pages i-xx
  2. Humans in the System

    1. Front Matter
      Pages 1-1
    2. Matylda Jabłońska, Tuomo Kauranne
      Pages 3-14
    3. Samuel Thiriot, Zach Lewkovicz, Philippe Caillou, Jean-Daniel Kant
      Pages 15-25
    4. Sjoukje A. Osinga, Mark R. Kramer, Gert Jan Hofstede, Adrie J. M. Beulens
      Pages 27-38
  3. Financial Markets

    1. Front Matter
      Pages 39-39
    2. Andrea Teglio, Marco Raberto, Silvano Cincotti
      Pages 41-52
    3. Florian Hauser, Marco LiCalzi
      Pages 65-76
  4. Organization design

    1. Front Matter
      Pages 77-77
    2. Tim Verwaart, Natalia I. Valeeva
      Pages 103-114
  5. Macroeconomics

    1. Front Matter
      Pages 115-115
    2. Hugues Bersini, Nicolas van Zeebroeck
      Pages 117-128
    3. Benoît Desmarchelier, Faridah Djellal, Faïz Gallouj
      Pages 129-138
    4. Omar A. Guerrero, Robert L. Axtell
      Pages 139-150
  6. Market dynamics

    1. Front Matter
      Pages 151-151
    2. César García-Díaz, Arjen van Witteloostuijn
      Pages 153-164
    3. Shira Fano, Paolo Pellizzari
      Pages 165-176

About this book


Artificial economics is a computational approach that aims to explain economic systems by modeling them as societies of intelligent software agents. The individual agents make autonomous decisions, but their actual behaviors are constrained by available resources, other individuals' behaviors, and institutions. Intelligent software agents have communicative skills that enable simulation of negotiation, trade, reputation, and other forms of knowledge transfer that are at the basis of economic life. Incorporated learning mechanisms may adapt the agents' behaviors. In artificial economics, all system behavior is generated from the individual agents' simulated decisions; no system level laws are a priori imposed. For instance, price convergence and market clearing may emerge, but not necessarily. Thus, artificial economics facilitates the study of the mechanisms that make the economy function. This book presents a selection of peer-reviewed papers addressing recent developments in this field between economics and computer science.


Agent-Based Models Artificial Markets Complex Adaptive Systems Computational Economics Economic Networks

Editors and affiliations

  • Sjoukje Osinga
    • 1
  • Gert Jan Hofstede
    • 2
  • Tim Verwaart
    • 3
  1. 1., Department LDI/bode 143Wageningen UniversityWageningenNetherlands
  2. 2., Department LDI/bode 143Wageningen UniversityWageningenNetherlands
  3. 3.LEI, Wageningen URDen HaagNetherlands

Bibliographic information

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