Complexity Economics Articles2019-01-06T14:48:05+00:00

Complexity Economics Articles

Economic Resilience

May 27th, 2017|

Economic Resilience Economic resilience is the capacity for an economic organization to recover from, adjust to, or maintain functionality in the face of negative internal or external impacts.1 The idea of economic [...]

Economic Self-Organization

May 26th, 2017|

Economic Self-Organization Self-organization is the emergence of a globally coherent pattern of organization out of the local interactions between initially independent components.1 Self-organization is a dynamic process through which patterns of organization [...]

Economic Theory

May 5th, 2017|

In this paper, we outline some of the major considerations involved in the study of economics, including trying to understand the logic behind the decision making of agents, theories of economic value and the idea of intrinsic and extrinsic value.

Economic Agents

May 3rd, 2017|

In this article, we will be exploring two different models given for agents within an economic context. We will talk about how standard economics offers this model of the rational individual sometimes called homo economicus, and we will draw upon the new area of behavioral economics which presents an alternative model to human behavior within an economic context.

Value Theory

October 4th, 2016|

Value theory within economics represents all theories that try to define what economic value is, where it comes from, why goods and services are priced the way they are and how to calculate some form of objective price; if such a value exists

Incentive Systems

October 4th, 2016|

The study of incentives is one of the central topics in microeconomics - incentives to work hard, to produce quality products, to study, to invest, to save, etc. How to design institutions that provide good incentives for economic agents has become a central question of economics. Behind this though is the idea of motivation, that is to say, what motives do economic agents operate under.

Economic Networks

October 4th, 2016|

Over the past few decades with the rise of information technology and globalization, the global economy has become networked on many different levels. Both its technological infrastructure and its institutional superstructure have become increasingly integrated into dense, multimodal networks, from the micro level of individual organizations all the way up to the global level through global cities and the global supply chains that they enable.

Complexity Economics Overview

December 17th, 2015|

Complexity economics is an alternative paradigm within economic science based upon complexity theory and nonlinear models. Within this theoretical framework the economy is modeled as an open system composed of heterogeneous agents with bounded rationality, which gives rise to networks of interactions that we call institutions, and macro level non-equilibrium state to the economy that is in constant change driven by internal dynamics.

Evolutionary Economics

December 16th, 2015|

Evolutionary economics is an alternative paradigm to economic development that is focused on the internal dynamics through which the macroeconomy generates novel phenomena and changes over time in an evolutionary process, without the guidance of some centralized regulatory mechanism.

Economic Self-Organization

December 16th, 2015|

Self-organization is the emergence of a globally coherent pattern of organization out of the local interactions between initially independent components. It is in many ways very much counter-intuitive to our traditional beliefs about order having to be imposed from some external top-down design.

Behavioral Economics

December 16th, 2015|

Behavioral economics is an approach to microeconomics that uses experiments to determine how agents make choices within an economic context, it studies the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences of this to broader economic outcomes.

Path Dependency

December 15th, 2015|

The concept of Path Dependence is used to capture the way in which small, historical contingent events can set off self-reinforcing mechanisms and processes that “lock-in” particular pathways of development.

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