Some articles on ace models, models:
... DSGE and ACE models have different advantages and disadvantages due to their different underlying structures ... DSGE models may exaggerate individual rationality and foresight, and understate the importance of heterogeneity, since the rational expectations ... Also, unlike ACE models, it may be difficult to study local interactions between individual agents in DSGE models, which instead focus mostly on the way agents interact through aggregate prices ...
Famous quotes containing the words models and/or ace:
“Today it is not the classroom nor the classics which are the repositories of models of eloquence, but the ad agencies.”
—Marshall McLuhan (19111980)
“I do not object to Gladstones always having the ace of trumps up his sleeve, but only to his pretence that God had put it there.”
—Henry Labouchere (18311912)