ECONOMICS AND COMPLEXITY

Author:

KIRMAN ALAN1

Affiliation:

1. CGREQAM, EHESS, Universite d'Aix Marseille, 2 Rue de la Charite, 13002 Marseille, France

Abstract

This paper presents a view of the economy as a complex system with heterogeneous interacting agents who collectively organize themselves to generate aggregate phenomena which cannot be regarded as the behavior of some average or representative individual. There is an essential difference between the aggregate and the individual and such phenomena as bubbles and crashes, herd behavior, the transmission of information and the organization of trade are better modeled in the sort of framework suggested here than in more standard economic models.

Publisher

World Scientific Pub Co Pte Lt

Subject

Control and Systems Engineering

Cited by 11 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Introduction;Firms, Industries, Markets;2024

2. Complex and Entangled Public Policy: Here Be Dragons;Emergence, Entanglement, and Political Economy;2020-12-05

3. Individual Satisfaction and Economic Growth in an Agent-Based Economy;Computational Economics;2018-09-22

4. Complex and Entangled Public Policy: Here Be Dragons;SSRN Electronic Journal;2018

5. The Agent-Based Structural Approach In Infrastructure For Economic Growth;The 8th International Scientific Conference "Business and Management 2014";2014

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