On the ontological turn in economics: The promises of agent-based computational economics
By: Chen, Shu-Heng
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Material type: 
BookPublisher: Philosophy of The Social Sciences Description: 50(3), Jun, 2020: p,238-259.Subject(s): Ontological turn, Agent-based modeling, Autonomous agents, Social interaction, Micro-macro link
In:
Philosophy of The Social SciencesSummary: This article argues that agent-based modeling (ABM) is the methodological implication of Lawson’s championed ontological turn in economics. We single out three major properties of agent-based computational economics (ACE), namely, autonomous agents, social interactions, and the micro-macro links, which have been well accepted by the ACE community. We then argue that ACE does make a full commitment to the ontology of economics as proposed by Lawson, based on his prompted critical realism. Nevertheless, the article also points out the current limitations or constraints of ACE. Efforts to overcome them are deemed to be crucial before ACE can make itself more promising to the current ontological turn in economics.- Reproduced
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Articles
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Indian Institute of Public Administration | 50(3), Jun, 2020: p,238-259 | Available | AR123642 |
This article argues that agent-based modeling (ABM) is the methodological implication of Lawson’s championed ontological turn in economics. We single out three major properties of agent-based computational economics (ACE), namely, autonomous agents, social interactions, and the micro-macro links, which have been well accepted by the ACE community. We then argue that ACE does make a full commitment to the ontology of economics as proposed by Lawson, based on his prompted critical realism. Nevertheless, the article also points out the current limitations or constraints of ACE. Efforts to overcome them are deemed to be crucial before ACE can make itself more promising to the current ontological turn in economics.- Reproduced
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