ECONOMICS AND COMPLEXITY-Reference-Cited by-同舟云学术

ECONOMICS AND COMPLEXITY

Published:2004-06 Issue:02 Volume:07 Page:139-155
ISSN:0219-5259
Container-title:Advances in Complex Systems
language:en
Short-container-title:Advs. Complex Syst.

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

Link

https://www.worldscientific.com/doi/pdf/10.1142/S0219525904000123

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