Recent developments in complexity in economics

Media type: E-Book

Title: Recent developments in complexity in economics

Contributor: Gallegati, Mauro [VerfasserIn]

imprint: Cheltenham, UK; Northampton, MA: Edward Elgar Publishing, 2021

Extent: 1 Online-Ressource

Language: English

DOI: 10.4337/9781788978781

ISBN: 9781788978781

Identifier:

Keywords: Wirtschaftswissenschaft ; Komplexe Systeme ; Theorie ; Economics Mathematical models ; Economics Methodology ; Electronic books

Origination:

Footnote:

Description: Recommended readings (Machine generated): 1.Joseph A. Schumpeter (1947),'The Creative Response in Economic History', Journal of Economic History, 7 (2), November, 149-59[11] -- 2.Simon A. Herbert (1962), 'The Architecture of Complexity', Proceedings of the American Philosophical Society, 106 (6), December, 467-82[16] -- 3.Friedrich A. von Hayek (1967), 'The Theory of Complex Phenomena', in Studies in Philosophy, Politics, and Economics, Chapter 2, Abingdon, UK and Philadelphia, USA: Routledge, 22-42[21] -- 4.Thomas C. Schelling (1969), 'Models of Segregation', American Economic Review, 59 (2), May, 488-93[6] -- 5.Don Lavoie (1989), 'Economic Chaos or Spontaneous Order? Implications for Political Economy of the New View of Science', Cato Journal, 8 (3), Winter, 613-35[23] -- 6.W. Brian Arthur (1994), 'Bounded Rationality and Inductive Behaviour (the El Farol Problem)', American Economic Review Papers and Proceedings of the Hundred and Sixth Annual meeting of the American Economic Association, 84 (2), May, 406-11[6] -- 7.Richard Palmer, W. Brian Arthur, John H. Holland, Blake LeBaron and Paul Taylor (1994), 'Artificial Economic Life: A Simple Model of a Stock Market', Physica D: Nonlinear Phenomena, 75 (1-3), August, 264-74[11] -- 8.Kenneth Arrow (1994), 'Beyond General Equilibrium', in G. A. Gowan, David Pines and David Meltzer (eds), Complexity: Metaphors, Models and Reality, Abingdon, UK and Philadelphia, USA: Taylor & Francis Group, 451-7[7] -- 9.W. Brian Arthur, Steven N. Durlauf and David A. Lane (1997), 'Introduction', in W. Brian Arthur, Steven N. Durlauf and David A. Lane (eds), The Economy as an Evolving Complex System: Second Edition, Abingdon, UK and Philadelphia, USA: Taylor & Francis Group, 1-14[14] -- 10.W. Brian Arthur, John H. Holland, Blake Le Baron, Richard Palmer and Paul Taylor (1997), 'Asset Pricing Under Endogenous Expectations in an Artificial Stock Market' in W. Brian Arthur, Steven N. Durlauf and David A. Lane (eds), The Economy as an Evolving Complex System: Second Edition, Abingdon, UK and Philadelphia, USA: Taylor & Francis Group, 15-44[30] -- 11.Paul Krugman (1997),'How the Economy Organizes Itself in Space: A Survey of the New Economic Geography', in W. Brian Arthur, Steven N. Durlauf and David A. Lane (eds), The Economy as an Evolving Complex System: Second Edition, Abingdon, UK and Philadelphia, USA: Taylor & Francis Group, 239-62[24] -- 12.Kristian Lindgren (1997), 'Evolutionary Dynamics in Game-Theoretic Models', in W. Brian Arthur, Steven N. Durlauf and David A. Lane (eds), The Economy as an Evolving Complex System: Second Edition, Abingdon, UK and Philadelphia, USA: Taylor & Francis Group, 337-67[31] -- 13.J. Barkley Rosser, Jr. (1999), 'On the Complexities of Complex Economic Dynamics', Journal of Economic Perspectives, 13 (4), Fall, 169-92[24] -- 14.Alan P. Kirman (2000), 'Interaction and Markets', in Mauro Gallegati and Alan P. Kirman (eds), Beyond the Representative Agent, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 1-44[44] -- 15.Paul A. David (2000), 'Path Dependence, its Critics and the Quest for 'Historical Economics'', in P. Garrouste and S. Ioannides (eds), Evolution and Path Dependence in Economic Ideas: Past and Present, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 15-41[27] -- 16.William A. Brock and David Colander (2000), 'Complexity and Policy' in David Colander (ed), The Complexity Vision and the Teaching of Economics, Part II, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 73-98[26] -- 17.Steven F. Railsback (2001), 'Concepts from Complex Adaptive Systems as a Framework for Individual-Based Modelling', Ecological Modelling, 139 (1), March, 47-62[16] -- 18.Steven E. Phelan (2001), 'What is Complexity Science, Really?', Emergence, 3 (1), June, 120-36[17] -- 19.Donald C. Mikulecky (2001), 'The Emergence of Complexity: Science Coming of Age or Science Growing Old?', Computers and Chemistry, 25 (4), July, 341-48[8].

20.C.S. Holling (2001), 'Understanding the Complexity of Economic, Ecological and Social Systems', Ecosystems, 4 (5), August, 390-405[16] -- 21.Giorgio Israel (2005), 'The Science of Complexity: Epistemological Problems and Perspectives', Science in Context, 18 (3), 479-509[31] -- 22.Roberto Leombruni and Matteo Richiardi (2005), 'Why are Economists Sceptical about Agent-Based Simulations?', Physica A: Statistical Mechanics and its Applications, 355 (1), September, 103-109[7] -- 23.John Foster (2005), 'From Simplistic to Complex Systems in Economics', Cambridge Journal of Economics, 29 (6), November, 873-92[20] -- 24.Alan P. Kirman (2005), 'Individual and Aggregate Behaviour: Of Ants and Men', in John Finch and Magali Orillard (eds), Complexity and the Economy: Implications of Economic Policy, Part I, Chapter 2, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 33-53[21] -- 25.Eric D. Beinhocker (2006), 'The Question: How is Wealth Created?' in The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics, Part I Chapter 1, New York, USA: Random House Business Publishing, 3-20[18] -- 26.William A. Brock and W. S. Durlauf (2006), 'Multinomial Choice with Social Interaction', in Lawrence E. Blume and Steven N. Durlauf (eds), The Economy as an Evolving Complex System III, Oxford, UK and New York, NY, USA: Oxford University Press, 175-206[32] -- 27.S. Solomon (2007), 'Complexity Roadmap', Institute for Scientific Interchange, Torino: Institute for Scientific Interchange[22] -- 28.Fernando Vega-Redondo (2007), 'Introduction', in Complex Social Networks, Chapter 1, Cambridge, UK, and New York, NY, USA: Cambridge University Press, 1-27[27] -- 29.John H. Miller and Scott E. Page (2007), 'Computation as Theory', in Complex Adaptive Systems: An Introduction to Computational Models of Social Life, Part III, Chapter 5, New Jersey, NJ, USA: Princeton University Press, 57-76[20] -- 30.J.D. Farmer and J. Geanakoplos (2008), 'The Virtues and Vices of Equilibrium and the Future of Financial Economics', Complexity, 14 (8), 11-38[28] -- 31.Luciano Pietronero (2008), 'Complexity Ideas from Condensed Matter and Statistical Physics', Europhysics News, 39 (6), 26-9[4] -- 32.John Foster and J. Stanley Metcalfe (2009), 'Evolution and Economic Complexity: An Overview', Economics of Innovation and New Technology, 18 (7), 607-10[4] -- 33.J. Barkley Rosser, Jr. (2009), 'Introduction', in J. Barkley Rosser Jr. (ed), Handbook of Research on Complexity, Chapter 4, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 3-11[9] -- 34.César A. Hidalgo and Ricardo Hausmann (2009), 'The Building Blocks of Economic Complexity', Proceedings of the National Academy of Sciences of the United States of America, 106 (26), June, 10570-5[6] -- 35.Domenico Delli Gatti, Edoardo Gaffeo and Mauro Gallegati (2010), 'Complex Agent-based Macroeconomics: A Manifesto for a New Paradigm', Journal of Economic Interaction and Coordination, 5 (2), December, 111-35[25] -- 36.Cristiano Antonelli (2011), 'The Economic Complexity of Technological Change: Knowledge Interaction and Path Dependence', in Handbook on the Economic Complexity of Technological Change, Chapter 1, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 3-46[44] -- 37.Harry Bloch and J. Stanley Metcalfe (2011), 'Complexity in the Theory of the Developing Firm', in Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, Chapter 3, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 81-104[24] -- 38.James Ladyman, James Lambert and Karoline Wiesner (2013),'What is a Complex System?', European Journal for Philosophy of Science, 3 (1), January, 33-67[35].

39.Matthieu Cristelli, Andrea Gabrielli, Andrea Tacchella, Guido Caldrelli and Luciano Pietronero (2013), 'Measuring the Intangibles: A Metrics for the Economic Complexity of Countries and Products', Plos One, 8 (8), August, 1-20[20] -- 40.Dirk Helbing and Alan Kirman (2013), 'Rethinking Economics Using Complexity Theory', Real World Economic Review, 64, 23-51[29] -- 41.W. Brian Arthur (2015), 'Complexity Economics: A Different Framework for Economic Thought', in Complexity and the Economy, Chapter 1, Oxford, UK and New York, NY, USA: Oxford University Press, 1-29[29] -- 42.Cristiano Antonelli and Gianluigi Ferraris (2017), 'The Marshallian and Schumpeterian Microfoundations of Evolutionary Complexity: An Agent Based Simulation Model', in Andreas Pyka and Uwe Canther (eds), Foundations of Economic Change: A Schumpeterian View on Behaviour, Interaction and Aggregate Outcomes, Berlin, Heidelberg and New York: Springer, 461-500[40].

This research review identifies fundamental essays on the theory of complexity and its application in economics. The concept of complexity is linked to that of non-linearity, or rather of heterogeneity and interaction between agents. If a system is non-linear it cannot be broken down. When there is interaction, the total is not the sum of single causes, but rather the emergence of new facts. New properties appear that are not already present in the single elements. If the economic system is complex, mainstream economics is in a cul-de-sac where the macroeconomics is different from the microeconomics. The uncertain future and the agent-based models are the main tools for applying the theory of complexity

Search in field:

Recently searched for: