Center for Interdisziplinary Research

Advances in Agent-Based Computational Economics

Date: July 5 - 7, 2010

Organizers: Herbert Dawid (Bielefeld), Michael Neugart (Bozen)

The goal of the international workshop on ‘Advances in Agent-Based Computational Economics’ (ADACE 2010) was to assess and further develop the usefulness of agent-based computational models to adequately describe and analyze socio-economic systems. In recent years economists, computer scientists and social scientists have started to use an agent-based approach both as a descriptive and normative tool to construct and evaluate market designs as well as public policy measures in simulated economic environments. One of the tasks of the workshop was to discuss the current state of the area from the various disciplinary angles, to identify where the promises made could be fulfilled, and where the future challenges are. ADACE had a particular focus on the field of agent-based spatial modeling of economies and policy implications arising from it, the behavioural foundations of agent-based modeling linking computational models to evidence from experimental studies, and the pressing problem of finding techniques that allow the appropriate implementation on large-scale computers and the calibration of agent-based computational models.

There was strong interest of researchers in several fields for this meeting. The workshop programme consisted of 5 plenary and 17 further talks and about 40 participants from 10 countries attended the workshop. Participants had a wide range of backgrounds including economics, management science, computer science, agricultural economics and demography. This multi-disciplinary setup gave rise to a fruitful exchange of ideas between disciplines and lively discussions.

The plenary presentations in the workshop focussed on the different main themes of the workshop. Herbert Gintis (Santa Fe Institute) discussed the importance of viewing a market economy as a complex dynamic system, Carlo Jäger (Potsdam Institute for Climate Impact Research) pointed out the potential of agent-based models to better understand extraordinary macroeconomic phenomena like the recent economic crisis, Christopher Greenough (Rutherford Appleton Laboratory) focussed on problems of actually implementing large scale agent-based models in an efficient way, Denise Pumain (University Paris 1) provided insights on the merits of agent-based analysis for the understanding of the dynamics of urban systems and Jasmina Arifovic (Simon Fraser University) reported on recent work that aims to extend the behavioural foundations of agent-based models. Furthermore the workshop included sessions with particular focus on several topical themes including agent-based macroeconomics, financial fragility, industry dynamics and estimation and validation of agent-based models. The presentations and discussions at ADACE demonstrated that agent-based research is attracting more and more attention in economics and the social sciences. This is also highlighted by the fact that several high level workshops focussing on agent-based computational economics were organized in Europe and the U.S. in 2010. Due to its interdisciplinary setup, the excellent venue and the quality of the presentations ADACE was certainly among the most stimulating of these workshops.


Franziska Appel (Halle (Saale)), Jasmina Arifovic (Burnbay), Alfons Balmann (Halle (Saale)), Dmitri Blüschke (Klagenfurt), Viktoria Blüschke-Nikolaeva (Klagenfurt), Felix Cahn (Bielefeld), Shu-Heng Chen (Taipeh), Jim E. Doran (Colchester), Giorgio Fagiolo (Pisa), Thomas Fent (Wien), Mauro Gallegati (Ancona), Simon Gemkow (Bielefeld), Jaba Ghonghadze (Kiel), Herbert Gintis (Northampton, MA), Christopher Greenough (Oxfordshire), Philipp Harting (Bielefeld), Johannes Hedtrich (Kiel), Christian Henning (Kiel), Giulia Iori (London), Carlo Jäger (Potsdam), Stefan Katzensteiner (Wien), Xihao Li (Bielefeld), Antoine Mandel (Paris), Robert Marks (Sidney), Philipp Möhlmeier (Preußisch Oldendorf), Arlette Ostermeyer (Halle (Saale)), Denise Pumain (Paris), Matteo Richiardi (Turin), Volker Saggau (Kiel), Sven Schreiber (Düsseldorf), Michael Schröder (Mannheim), Gerald Silverberg (Maastricht), Giorgio Triulzi (Maastricht), Sander van der Hoog (Bielefeld), Peter Winker (Gießen)

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