 Agent-based computational economics

Agent-based computational economics (ACE) is a subfield of economics that employs agent-based modeling (ABM) techniques to study complex economic systems. In ACE, individual agents represent economic entities—such as consumers, firms, or institutions—each of which follows its own decision-making rules and interacts with other agents in the system. These interactions can give rise to emergent phenomena, such as market fluctuations, social dynamics, or the evolution of economic norms.