A new book provides an overview of agent-based modeling (ABM) and multi-agent systems (MAS), emphasizing their significance in understanding complex economic systems. The book's 14 chapters feature ...

Uri Wilensky of Northwestern University’s Center for Connected Learning and Computer-Based Modeling Department observed the world has a variety of natural or emergent phenomena consisting of patterns, ...

Finance theory continues to develop beyond the traditional academic precincts of rational expectations and efficient markets, with the latest innovations coming from psychology, neuroscience and ...

What are “complex systems” in this context? These are noncomputer systems, such as a company’s supply chain. A system is “complex” when it has so many variables and interacting forces that it can’t be ...