▁of ▁the ▁approach ▁include ▁such ▁standard ▁economic ▁subjects ▁as ▁competition ▁and ▁collaboration , ▁market ▁structure ▁and ▁industrial ▁organization , ▁transaction ▁costs , ▁w elf are ▁econom ics ▁and ▁mechanism ▁design , ▁ ▁information ▁and ▁uncertainty , ▁and ▁macro e conom ics . ▁ ▁The ▁method ▁is ▁said ▁to ▁benefit ▁from ▁continu ing ▁improvements ▁in ▁model ing ▁techniques ▁of ▁computer ▁science ▁and ▁increased ▁computer ▁capabilities . ▁ ▁Iss ues ▁include ▁those ▁common ▁to ▁experimental ▁econom ics ▁in ▁general ▁and ▁by ▁comparison ▁and ▁to ▁development ▁of ▁a ▁common ▁framework ▁for ▁empir ical ▁validation ▁and ▁resol ving ▁open ▁questions ▁in ▁agent - based ▁model ing . ▁The ▁ult imate ▁scientific ▁objective ▁of ▁the ▁method ▁has ▁been ▁described ▁as ▁" test [ ing ] ▁theoretical ▁find ings ▁against ▁real - world ▁data ▁in ▁ways ▁that ▁permit ▁empir ically ▁supported ▁theories ▁to ▁cum ulate ▁over ▁time , ▁with ▁each ▁research er ' s ▁work ▁building ▁appropri ately ▁on ▁the ▁work ▁that ▁has ▁gone ▁before ." ▁ ▁Math ematic ization ▁of ▁econom ics ▁ ▁Over ▁the ▁course ▁of ▁the ▁ 2 0 th ▁century , ▁articles ▁in ▁" core ▁journ als " ▁in ▁econom ics ▁have ▁been ▁almost ▁exclus ively ▁written ▁by ▁econom ists ▁in ▁academ ia . ▁ ▁As ▁a ▁result , ▁much ▁of ▁the ▁material ▁transm itted ▁in ▁those ▁journ als ▁rel ates ▁to ▁economic ▁theory , ▁and ▁" e conom ic ▁theory ▁itself ▁has ▁been ▁continu ously ▁more ▁abstract ▁and ▁mathematical ." ▁A ▁subject ive ▁assess ment ▁of ▁mathematical ▁techniques ▁employed ▁in ▁these ▁core ▁journ als