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Author : W. Brian Arthur
Publisher : Oxford University Press, USA
Page : 241 pages
File Size : 55,5 Mb
Release : 2015
Category : Business & Economics
ISBN : 9780199334292
A collection of previous published papers by the author on the subject of complexity economics, appearing from the 1980s to the present.
Author : Ricardo Hausmann,Cesar A. Hidalgo,Sebastian Bustos,Michele Coscia,Alexander Simoes
Publisher : MIT Press
Page : 369 pages
File Size : 55,8 Mb
Release : 2014-01-17
Category : Business & Economics
ISBN : 9780262525428
Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.
Author : W. Brian Arthur
Publisher : CRC Press
Page : 428 pages
File Size : 54,7 Mb
Release : 2018-05-04
Category : Mathematics
ISBN : 9780429976261
A new view of the economy as an evolving, complex system has been pioneered at the Santa Fe Institute over the last ten years, This volume is a collection of articles that shape and define this view?a view of the economy as emerging from the interactions of individual agents whose behavior constantly evolves, whose strategies and actions are always adapting.The traditional framework in economics portrays activity within an equilibrium steady state. The interacting agents in the economy are typically homogenous, solve well-defined problems using perfect rationality, and act within given legal and social structures. The complexity approach, by contrast, sees economic activity as continually changing?continually in process. The interacting agents are typically heterogeneous, they must cognitively interpret the problems they face, and together they create the structures?markets, legal and social institutions, price patters, expectations?to which they individually react. Such structures may never settle down. Agents may forever adapt and explore and evolve their behaviors within structures that continually emerge and change and disappear?structures these behaviors co-create. This complexity approach does not replace the equilibrium one?it complements it.The papers here collected originated at a recent conference at the Santa Fe Institute, which was called to follow up the well-known 1987 SFI conference organized by Philip Anderson, Kenneth Arrow, and David Pines. They survey the new study of complexity and the economy. They apply this approach to real economic problems and they show the extent to which the initial vision of the 1987 conference has come to fruition.
Author : John H. Finch,Magali Orillard
Publisher : Edward Elgar Publishing
Page : 344 pages
File Size : 45,5 Mb
Release : 2005-01-01
Category : Business & Economics
ISBN : 1845428048
The internationally-renowned contributors to this book examine the causes and consequences of complexity among the broadly economic phenomena of firms, industries and socio-economic policy. They make a valuable contribution to the increasingly prominent subject of complexity, especially for those whose interests include evolutionary, behavioral, political and social approaches to understanding economics and economic phenomena.
Author : Eric D. Beinhocker
Publisher : Harvard Business Press
Page : 556 pages
File Size : 51,9 Mb
Release : 2006
Category : Business & Economics
ISBN : 157851777X
Beinhocker has written this work in order to introduce a broad audience to what he believes is a revolutionary new paradigm in economics and its implications for our understanding of the creation of wealth. He describes how the growing field of complexity theory allows for evolutionary understanding of wealth creation, in which business designs co-evolve with the evolution of technologies and organizational innovations. In addition to giving his audience a tour of this field of complexity economics, he discusses its implications for real-world issues of business.
Author : Ping Chen
Publisher : Routledge
Page : 272 pages
File Size : 41,8 Mb
Release : 2010-04-05
Category : Business & Economics
ISBN : 9781136994876
The Principle of Large Numbers indicates that macro fluctuations have weak microfoundations; persistent business cycles and interrupted technologies can be better characterized by macro vitality and meso foundations. Economic growth is limited by market extent and ecological constraints. The trade-off between stability and complexity is the foundation of cultural diversity and mixed economies. The new science of complexity sheds light on the sources of economic instability and complexity. This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. They are selected from works completed since 1987, including original research on the evolutionary dynamics of the division of labour, empirical and theoretical studies of economic chaos and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenged by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs. Throughout, a general theory based on complex evolutionary economics is developed, which integrates different insights from Marx, Marshall, Schumpeter, Keynes and offers a new understanding of the evolutionary history of division of labour. This book will be of interest to postgraduates and researchers in Economics, including macroeconomics, financial economics, advanced econometrics and economic methodology.
Author : Koenraad Verboven
Publisher : Springer Nature
Page : 372 pages
File Size : 53,5 Mb
Release : 2020-11-25
Category : Business & Economics
ISBN : 9783030478988
Economic archaeology and ancient economic history have boomed the past decades. The former thanks to greatly enhanced techniques to identify, collect, and interpret material remains as proxies for economic interactions and performance; the latter by embracing the frameworks of new institutional economics. Both disciplines, however, still have great difficulty talking with each other. There is no reliable method to convert ancient proxy-data into the economic indicators used in economic history. In turn, the shared cultural belief-systems underlying institutions and the symbolic ways in which these are reproduced remain invisible in the material record. This book explores ways to bring both disciplines closer together by building a theoretical and methodological framework to evaluate and integrate archaeological proxy-data in economic history research. Rather than the linear interpretations offered by neoclassical or neomalthusian models, we argue that complexity economics, based on system theory, offers a promising way forward.
Author : Cristiano Antonelli
Publisher : Edward Elgar Publishing
Page : 577 pages
File Size : 47,7 Mb
Release : 2011-01-01
Category : Technology & Engineering
ISBN : 9780857930378
This comprehensive and innovative Handbook applies the tools of the economics of complexity to analyse the causes and effects of technological and structural change. It grafts the intuitions of the economics of complexity into the tradition of analysis based upon the Schumpeterian and Marshallian legacies. The Handbook elaborates the notion of innovation as an emerging property of the organized complexity of an economic system, and provides the basic tools to understand the recursive dynamics between the emergence of innovation and the unfolding of organized complexity. In so doing, it highlights the role of organizational thinking in explaining the introduction of innovations and the dynamics of structural change. With a new methodological approach to the economics of technological change, this wide-ranging volume will become the standard reference for postgraduates, academics and practitioners in the fields of evolutionary economics, complexity economics and the economics of innovation.
Author : Dominik Hartmann
Publisher : Routledge
Page : 275 pages
File Size : 40,5 Mb
Release : 2018-03-12
Category : Business & Economics
ISBN : 9781135118945
This book combines the human development approach and innovation economics in order to explore the effects that structural economic change has on human development. While economic diversification can provide valuable new social choices and capabilities, it also tends to lead to more complex decision processes and changes to the set of capabilities required by people to self-determine their future. Within this process of structural transformation, social networks are crucial for accessing information and social support, but networks can also be a root cause of exclusion and inequality reproduction. This implies the need to encourage innovation and economic diversification beyond production expansion, focusing on the promotion of human agency and social inclusion. This book provides such a modern perspective on development economics, emphasizing the role of social networks, economic diversity and entrepreneurship for social welfare. The author discusses how innovation, social networks, economic dynamics and human development are interlinked, and provides several practical examples of social and micro-entrepreneurship in contexts as diverse as Peruvian rural villages and Brazil’s urban areas. The interdisciplinary perspective put forward in this book illustrates theoretical and methodological methods of exploring the complexity of development in a practical and relevant way. It also provides useful information about structural factors which need to be considered by practitioners when designing pro-poor growth policies. Furthermore, the coverage of the core concepts of innovation, networks and development economics, enriched with multiple examples, makes it a valuable resource for scholars and advanced students of modern development economics.
Author : J. Barkley Rosser, Jr.
Publisher : Springer Nature
Page : 174 pages
File Size : 47,8 Mb
Release : 2021-05-21
Category : Business & Economics
ISBN : 9783030706685
This book presents a survey of the aspects of economic complexity, with a focus on foundational, interdisciplinary ideas. The long-awaited follow up to his 2011 volume Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems: From Catastrophe to Chaos and Beyond, this volume draws together the threads of Rosser’s earlier work on complexity theory and its wide applications in economics and an expanded list of related disciplines. The book begins with a full account of the broader categories of complexity in economics--dynamic, computational, hierarchical, and structural--before shifting to more detailed analysis. The next two chapters address problems associated with computational complexity, especially those of computability, and discuss the Godel Incompleteness Theorem with a focus on reflexivity. The middle chapters discuss the relationship between entropy, econophysics, evolution, and economic complexity, respectively, with applications in urban and regional dynamics, ecological economics, general equilibrium theory, as well as financial market dynamics. The final chapter works to bring together these themes into a broader framework and expose some of the limits concerning analysis of deeper foundational issues. With applications in all disciplines characterized by interconnected nonlinear adaptive systems, this book is appropriate for graduate students, professors and practitioners in economics and related disciplines such as regional science, mathematics, physics, biology, environmental sciences, philosophy, and psychology.
Author : Elena G. Popkova,Bruno S. Sergi
Publisher : Springer Nature
Page : 1055 pages
File Size : 42,5 Mb
Release : 2019-09-14
Category : Technology & Engineering
ISBN : 9783030295868
This proceedings book features selected papers from the 9th National Scientific and Practical Conference “Digital Economy: Complexity and Variety Vs. Rationality,” which took place on April 17–18, 2019, in Vladimir (Russian Federation). It presents the latest research in the field of the digital economy, discussing its role in the creation of advantages for the state, entrepreneurship, and society, as well as the emergence of new economic risks. The chapters address the following topics: the importance of economy’s digital modernization, tools for the formation of the digital economy in Russia, specific features and perspectives of digital modernization of the regional economy, an overview of the social consequences of transition to the digital economy, financial components of the digital economy, legal challenges regarding the digital reality for society and state, and the main challenges and threats to the profession of jurisprudence in the context of the digitization of the economy. Intended for representatives of the academic community and researchers interested in the formation of the digital economy and digital society as well as undergraduates, postgraduates, and masters of economic specialties, the book is also a valuable resource for companies that use or wishing to implement digital technologies into their economic practices; and public and government employees involved with monitoring, control, and regulation of the digital economy.
Author : W. Brian Arthur,Eric Beinhocker,Allison Stanger
Publisher : Unknown
Page : 382 pages
File Size : 55,9 Mb
Release : 2020-12
Category : Science
ISBN : 1947864378
When Santa Fe Institute scientists first started working on economics more than thirty years ago, many of their insights, approaches, and tools were considered beyond heterodox. These once-disparaged approaches included network economics, agents of limited rationality, and institutional evolution-all topics that are now increasingly considered mainstream. SFI continues to expand the boundary of our economic understanding by pioneering fields as diverse as collective intelligence and organizational scaling. This volume, edited by W. Brian Arthur, Eric D. Beinhocker, and Allison Stanger, includes panel and talk transcripts from SFI's 2019 Applied Complexity Network Symposium, with newly written introductions and reflections. Representing both scholarly and practitioner perspectives, this book explores the history and frontiers of complexity economics in a broad-ranging, accessible manner.
Author : Victor A. Beker
Publisher : Routledge
Page : 259 pages
File Size : 41,9 Mb
Release : 2019-06-11
Category : Business & Economics
ISBN : 9780429664519
The 2007–2008 financial crisis exposed the shortcomings of mainstream economic theory with economists unprepared to deal with it. In the face of this, a major rethinking of economics seems necessary and in presenting alternative approaches to economic theory, this book contributes to the rebuilding of the discipline. This volume brings together contributions from different perspectives and theoretical approaches that address the challenge of updating the economic theory corpus and seek to recover prestige for this discipline after the failure of neoclassical economics. It addresses a range of topics, including the complexity approach to economics, category theory, the Post-Keynesian approach to micro and macroeconomics, financialisation, multidimensional analysis and ecological economics. The book is aimed at economics scholars, researchers, academics and practitioners, as well as upper undergraduates and graduates in this area of knowledge. It may also be of interest for people interested in methodological issues in economics and the relationship between economic theory and the real world.
Author : Wolfram Elsner,Torsten Heinrich,Henning Schwardt
Publisher : Academic Press
Page : 600 pages
File Size : 49,5 Mb
Release : 2014-04-15
Category : Business & Economics
ISBN : 9780124115996
The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset. Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories. Describes the usefulness of complex heterodox economics Emphasizes divergences and convergences with neoclassical economic theories and perspectives Fits easily into courses on intermediate microeconomics, industrial organization, and games through self-contained chapters
Author : W. Brian Arthur
Publisher : University of Michigan Press
Page : 228 pages
File Size : 50,7 Mb
Release : 1994
Category : Business & Economics
ISBN : 0472022407
Pioneering work on an important new approach to economics.