Stochastic dominance (SD) is commonly used to rank income distribution and assesssocial policies. The literature argues that SD is a robust criterion for policy evaluationbecause it requires minimal knowledge of the social welfare function. We argue that,on the contrary, SD is not a robust...

Life expectancy around the world has increased substantially since 1970. In contrast, consump-tion per capita has fallen in some countries, remained stagnant, or sharply increased in others.What are the welfare gains of the systematic increase in life expectancy around the world? Howdoes a "full...

  This article characterizes anticipated changes in fleet structure, individual vessel harvesting activity, and economic performance in the Pacific Coast groundfish fishery under an individual fishing quota management program. Results suggest that the current fleet of 117 vessels will be...

The entry describes the basic agent-based computational economics methodology and provides a brief review of the literature.

This study provides a basic introduction to agent-based modeling (ABM) as a powerful blend of classical and constructive mathematics, with a primary focus on its applicability for social science research.  The typical goals of ABM social science researchers are discussed along with the...

A brief overview of agent-based computational economics (ACE) is given, followed by a synopsis of the articles included in this special issue on ACE and in a companion special issue on ACE scheduled to appear in Computational Economics.

A brief overview of agent-based computational economics (ACE) is given, followed by synopses of the articles included in this special ACE issue.

This essay discusses the potential relevance of artificial life research for the study of economic processes.