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Dynamic complexity and the general equilibrium model

We introduce agent-based dynamics in a class of Arrow-Debreu economies with capital accumulation and technological progress. In this framework we conrm results obtained by [Gintis 2006] and [Gintis 2007] in an exchange economy: the micro-behavior of boundedly rational agents can lead to the emergence of equilibrium at the macro-level provided some form of collective optimization takes place via evolutionary mechanisms. An analysis of the necessary conditions for these results then helps us underline the challenges agent-based models might help to tackle in the development of a theory of out-of-equilibrium dynamics.