Book notes: The End of Theory, by Richard Bookstaber
Bookstaber provides an entertaining introduction to agent-based modelling
Richard Bookstaber, The End of Theory, Princeton University Press, 2017, 240 pages
Agent-based modelling is starting to be taken seriously by economists. Many who have experimented with it emphasise its value as an accompaniment to the mainstream neoclassical school; see, for instance, the recent paper by Andy Haldane and Arthur Turrell. Richard Bookstaber, by contrast, wants it to sweep aside neoclassical theory, which he believes has failed catastrophically, and take centre stage – hence the
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