Changing consumer choices have built microchip factories where cotton fields used to be and have doomed cities from New Bedford to Detroit, while the impact of these choices on jobs and tax revenues has stimulated the creation of models of consumer behavior. Even finely tuned econometric models,...

This special issue of the Journal of Economics and Statistics is devoted to the use of agent-based models for economic policy advice. It presents a collection of research papers in different fields of applications. Special emphasis is laid on discussing the potential and possible limitations of...

Frontmatter -- Inhalt / Contents -- Guest Editorial -- Abhandlungen / Original Papers -- The Routinization of Creativity / Cohendet, Patrick / Lleren, Patrick / Simon, Laurent -- The Evolution of Knowledge and Knowledge of Evolution / Loasby, Brian J. -- Like Doktorvater, like Son? Tracing Role...

Forecasts guide decisions in all areas of economics and finance. Economic policy makers base their decisions on business cycle forecasts, investment decisions of firms are based on demand forecasts, and portfolio managers try to outperform the market based on financial market forecasts....