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A New Kind of Complexity Economics?

David Colander and Roland Kupers

in Complexity and the Art of Public Policy: Solving Society's Problems from the Bottom Up

Published in print:
2016
Published Online:
January 2018
ISBN:
9780691169132
eISBN:
9781400850136
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691169132.003.0008
Subject:
Economics and Finance, History of Economic Thought

This chapter begins with a background on the founding of the Santa Fe Institute in 1986 by a number of eminent scientists, such as physicists Murray Gell Mann and David Pines and chemist George ... More


Complexity Economics and Workaday Economic Policy

David Colander

in Complexity and Evolution: Toward a New Synthesis for Economics

Published in print:
2016
Published Online:
May 2017
ISBN:
9780262035385
eISBN:
9780262337717
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262035385.003.0015
Subject:
Economics and Finance, History of Economic Thought

This chapter argues that complexity theory has significant implications for workaday economic policy. The complexity vision, which pictures an economy as a complex evolving system undergoing ... More


Epilogue: Prospects for changing equilibrium model building practice in economics

Lawrence A. Boland

in Equilibrium Models in Economics: Purposes and Critical Limitations

Published in print:
2017
Published Online:
May 2017
ISBN:
9780190274320
eISBN:
9780190274368
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190274320.003.0017
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter considers whether new efforts provided by behavioural, evolutionary and complexity economics have any chance of changing how economics is taught and practiced in the future. The main ... More


Equilibrium models vs. complexity economics

Lawrence A. Boland

in Equilibrium Models in Economics: Purposes and Critical Limitations

Published in print:
2017
Published Online:
May 2017
ISBN:
9780190274320
eISBN:
9780190274368
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190274320.003.0013
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter will critically examine the non-equilibrium-based complexity theory approach to model building. Complexity theory replaces equilibrium-based models with algorithm-based models. Attention ... More


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