Agent-based computational economics

Agent-based computational economics is a way of using computers to study how people might behave in the economy. It works by creating computer programs that can act like people and react to different economic situations. These programs can act out different scenarios, like how people will buy or sell certain items, and how people might respond to changes in prices. By running these simulations, researchers can learn more about how the economy works and how people might behave in different economic conditions.