Principles of Complexity Economics: Concepts, Methods and Applications
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Format: | Buch |
Sprache: | English |
Veröffentlicht: |
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Springer
[2024]
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Schriftenreihe: | Classroom Companion: Economics
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Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | xxiii, 743 Seiten Illustrationen |
ISBN: | 9783031514357 |
ISSN: | 2662-2890 |
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Contents 1 Understanding a Complex World. 1.1 Introduction. 1.2 What Happened in the Past 30 Years?. 1.2.1 Geopolitical Change. 1.2.2 Globalization and Economic Crises. 1.2.3 Advances in Information Technology. 1.2.4 Advances in Biotechnology. 1.2.5 Environmental Changes. 1.2.6 Lessons from the Past 30 Years. 1.3 A VUCA World. 1.4 Wicked Problems and Social Messes. 1.5 What Might Happen in the Future?. 1.6 What Are Twenty-First Century Skills?. . . 1.7 How Can Complexity Economics Help?. References. 1 2 5 5 8 10 12 14 20 23 25 27 29 32 35 2 What Is Complexity?. 2.1 Introduction. 2.2 Complexity Sciences. 2.3
Systems. 2.4 Non-Complex Systems and the Degree of Complexity. 2.5 Complex Systems. 2.6 Complex Adaptive Systems. 2.7 Complexity Thinking and the Complexity Worldview. 2.8 Complexity Concepts. References. 39 40 42 44 48 50 53 55 61 68 3 Measurement of Complexity. 71 3.1 Introduction. 72 3.2 Patterns. 74 3.3 Complexity and Information. ; 79 3.3.1 Information. 81 3.3.2 Information Theory. 81 3.3.3 Shannon Entropy. 84 xvii
Contents xviii Complexity of Patterns. 87 3.4.1 Entropy and Patterns. 87 3.4.2 Permutation Entropy. 90 3.4.3 Statistical Complexity. . .· 94 3.5 Complexity of Systems. 97 3.5.1 Measurement of System Complexity. 98 3.5.2 Structural Complexity. 100 3.5.3 Functional Complexity. . . 103 3.5.4 Cyclomatic Complexity. 105 3.5.5 Organizational Complexity. 107 3.5.6 Objective and Subjective Complexity. 109 References. 113 3.4 Complexity Economics. 4·. 1 Introduction. 4.2 What Is Economics All About?. 4.3 Neoclassical Economics. 4.3.1 A Market Model with Rational Expectations. 4.3.2 The Ramsey-Cass-Koopmans Model. 4.4 Complexity
Economics. 4.4.1 Complexity Economics and Neoclassical Economics. 4.4.2 Complexity Economics and Other Schools of Thought. 4.5 Methods of Complexity Economics. 4.5.1 Nonlinear Dynamics and Chaos. 4.5.2 System Dynamics. 4.5.3 Agent-Based Modeling. 4.5.4 Social Network Analysis. 4.5.5 Scenario Analysis. References. 137 140 140 142 143 143 144 145 5 The Economy as a Complex Adaptive System. 5.1 Introduction. 5.2 Systemic Views on the Economy. 5.3 Economic Complexity. 5.3.1 Combination of Specialized Knowledge. 5.3.2 Measurement of Economic Complexity. 5.3.3 Empirical Results. 5.4 The Automobile
and Dynamic Complexity. 5.5 A Conceptual Framework for Socio-technical Transitions. 5.6 Things to Remember. References. 147 148 149 157 158 160 167 172 179 181 182 6 Nonlinearity. 6.1 Introduction. 6.2 Dynamical Systems. 183 184 188 4 115 116 117 119 120 124 129 131
xix Contents Differential Equations and Difference Equations. Dynamics of One-dimensional Continuous-time Systems. 6.2.3 Dynamics of Two-dimensional Continuous-time Systems. 6.2.4 Lotka-Volterra Population Models. 6.2.5 Bifurcations. 6.2,6 Catastrophes. 6.2.7 Iterated Maps. 6.2.8 · Logistic Map and Chaos. 6.2.9 Lyapunov Exponent. 6.3 Business Cycles and Financial Instability. 6.3.1 The Goodwin Model of Business Cycles. 6.3.2 Great Moderation and Financial Crisis. 6.3,3 Minsky’s Financial Instability Hypothesis. . 6.3.4 Keen’s Basic Minsky Model. 6.3.5 Keen’s Minsky Model with Money Creation. 6.4 Nonlinear Expectation Formation and the Business Cycle. 6.4.1 Modified Multiplier-Accelerator Model. 6.4.2 Properties of the Model. 6.5 Nonlinearity in Economics. 6.5.1
Applications of Nonlinearity. 6.5.2 Empirical Evidence. 6.5.3 Nonlinearity and EconomicWorldviews. References. . . 6.2.1 6.2,2 7 188 190 194 203 208 213 215 217 223 225 225 228 229 230 232 237 237 238 241 241 245 246 249 Feedback, Circular Causality, and System Dynamics. 253 7.1 Introduction. 254 7.2 Unintended Consequences. 256 7.3 Causality in the Social Sciences. 262 7.3.1 Explanation by Reasons, Causes, and Processes. 262 7.3.2 Types of Causes. 266 7.3.3 Modeling Causal Mechanisms. 271 7.3.4 Causality in Economics. 273 7.4 Feedback and System Dynamics. 275 7.4.1 Feedback. 275 7.4.2 Causal Loop Diagrams. 277 7.4.3 Modes of Dynamic Behavior. 280 7.4.4 Stock-flow Diagrams. 289 7.4.5 System Dynamics
Models. 293 7.5 Infection and Diffusion. 297 7.5.1 The SIR Model. 297 7.5.2 Sentiment and Narratives. 301 7.5.3 The Bass Diffusion Model. 304
Contents XX Dynamic Decision-making and Oscillations. 7.6.1 Stock Management Control Problems. 7.6.2 The Beer Distribution Game and the Bullwhip Effect. : . 309 7.6.3 System Dynamics Model of the Beer Distribution Game. 314 Ί.Ί Collapse. Ί.Ί. 1 Exploitation of Renewable Common-pool Resources. 7.7.2 Collapse of Civilizations. 7.8 Causal Complexity. References. 320 327 331 335 8 Self-organization. 8.* 1 Introduction. 8.2 Cellular Automata and Agent-Based Models. 8.2.1 Cellular Automata. 8.2.2 Agent-Based Models. 8.3 Self-Organization in the Natural World. . . 8.3.1 . General Characterization. 8.3.2 The Ising Model from Statistical Physics. 8.3.3 A Cellular Automaton of a Chemical Oscillator.
8.3.4 An Agent-Based Model of Flocking Birds. 8.4 Self-Organization in the Human World. 8.4.1 Spatial Patterns. 8.4.2 Temporal Patterns. 8.4.3 Functional Patterns. 8.5 Models of Self-Organization in the Social Sciences. 8.5.1 Simple Contagion. 8.5.2 Social Influence and Complex Contagion. 8.5.3 Segregation and Spatial Organization. 8.5.4 Self-organized Industrial Symbiosis. 8.6 Spontaneous Order. 8.6.1 Hayek on Spontaneous Order. 8.6.2 Hayek’s Theory and Complexity Economics. 8.7 The Economy as a Dissipative Structure. 8.7.1 Thermodynamic Equilibrium and Entropy. 8.7.2 Dissipative Structures. 8.7.3 Dissipative Structures in Nature. 8.7.4 The Fourth Law of Thermodynamics. 8.7.5 Relevance for Economics.
References. 339 341 343 343 345 348 348 349 354 356 359 360 363 364 368 368 372 376 379 384 384 388 390 392 396 398 401 407 415 9 Emergence, Levels, and Hierarchy. 9.1 Introduction. 9.2 Levels and Hierarchies. 419 420 424 7.6 307 308 319
Contents 10 xxi 9.2.1 Hierarchies in the Social World. 9.2.2 Levels in the Economy. 9.2.3 Fallacy of Composition and Representative Agents. 9.3 Emergence. 9.3.1 Weak Emergence. 9.3.2 Strong Emergence. 9.4 Macrofoundations of Microeconomics. 9.4.1 Downward Causation. 9.4.2 The Emergence Paradigm in Sociology. 9.4.3 · Multiple Equilibria and Indeterminacy. 9.5 Institutions in Economics. 9.5.1 New Institutional Economics. 9.5.2 Traditional Institutional Economics . . 9.5.3 A Model of the Emergence of Norms. 9.6 Emergent Macroeconomics. 9.6.1 The Flaws of Neoclassical Macroeconomics. 9.6.2 The Generative View to Macroeconomics. 9.6.3 Stylized Facts. 9.6.4 An Agent-Based Business Cycle Model. 9.6.5 Other Agent-Based Macro Models.
References. 428 429 435 441 443 448 450 451 452 456 457 458 459 463 468 469 471 473 475 485 490 Economic Evolution, Novelty, and Diversity. 10.1 Introduction. 10.2 Novelty. 10.2.1 Some Theoretical Considerations onNovelty. 10.2.2 A Short History of Technical Inventions. 10.3 Evolution as Process and Theory. 10.3.1 Theory of Evolution. 10.3.2 Genetic Algorithms. . 10.3.3 Fitness Landscape. 10.3.4 Virtual Creatures. 10.3.5 Cultural Evolution. 10.4 Coevolution of Behaviors and Social Institutions. 10.5 The Economy as an Evolutionary System. 10.5.1 Evolution as Computation. 10.5.2 Economic Evolution. 10.5.3 Evolutionary Economics and Complexity Economics. 10.6
Evolution of Knowledge. 10.6.1 Knowledge of an Individual Person. 10.6.2 Knowledge of an Organization. 10.7 Evolution of Social Technologies. 10.7.1 Cladistic Classification. 10.7.2 Evolutionary Systems Modeling. 495 497 500 500 502 507 508 512 517 521 524 529 534 537 539 542 543 544 547 549 549 551
Contents xxii Diversity. 10.8.1 Kinds of Diversity. 10.8.2 Framework for Analyzing Diversity. . 10.8.3 Diversity, Complexity, and Coping with External Stress. 567 References. 558 558 563 History and Path Dependence. 11.1 Introduction. 11.2 Historical and Ahistorical Economics. 11.2.1 Economic Thinking vs. Historical Thinking. 11.2.2 The Arrow of Time. 11.2.3 Historical Economics. 11.3 Path Dependence. 11.3.1 Negative Definition of Path Dependence and Ergodicity. 597 11.3.2 Positive Definition of Path Dependence. 11.3.3 Reasons for Path Dependence. 11.4 Lock-in. 11.4,1 Some Examples of Lock-in. 11.4.2 Responses to the Liebowitz-Margolis Critique. . 11.4.3 Types and Causes of Systemic Lock-in.
11.5 Path Formation and Path Change. 11.5.1 Critical Junctures. 11.5.2 A Framework for Path Formation. 11.5.3 Punctuated Equilibrium and Path Changes. 11.6 The History of the Automobile in the Twentieth Century. 11.6.1 Was the Gasoline-Fueled ICE a Good Choice?. 11.6.2 Decisive Factors for the Choice of the ICE. 11.6.3 Positive Feedback and Path Stabilization. 11.7 Modeling Future Transitions of the Automobile. 11.7.1 Model. 11.7.2 Application to Sustainable Road Transport. References. 581 582 585 585 591 593 596 600 601 610 611 614 616 619 619 621 622 627 627 629 632 633 634 636 641 Adaptation, Learning, and Behavior. 12.1 Introduction. 12.2 Modes of Behavior and Learning. 12.2.1 Modes of Behavior. 12.2.2 A Conceptual Model of Consumer Behavior. 12.2.3 Types of Learning. 12.3
Rational Behavior and Maximization. . 12.3.1 What Makes Decisions Difficult. 12.3.2 Computational Complexity. 647 648 652 653 655 659 660 660 663 10.8 11 12 576
Contents xxiii 12.3.3 As-if and Approximation. 12.3.4 Example of Intertemporal Utility Maximization. 12.4 Behavior and Learning of Boundedly Rational Individuals. 12.4.1 Heuristics and Biases. 12.4.2 Fast and Frugal Heuristics. 12.4.3 Learning. 12.5 Cultural Adaptation and Imitation. 12.6 Collaborative Problem-solving and Social Learning. 12.6.1 Collaborative Problem-Solving. 12.6.2 ' Social Learning. 12.7 Sense-making and Narratives. References. . 666 668 670 673 676 681 685 690 691 694 698 705 13 Conclusion: What Does it all Mean?. 13.1 Introduction. 13.2 Ten Lessons for Complexity Thinking. 13.3 Why Does it Matter?. 13.4 The Complex Economy and Complexity Economics. References. 709
710 710 716 723 728 Index. 731 |
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spelling | Roos, Michael W. M. 1973- Verfasser (DE-588)143679252 aut Principles of Complexity Economics Concepts, Methods and Applications Michael Roos Cham Springer [2024] xxiii, 743 Seiten Illustrationen txt rdacontent n rdamedia nc rdacarrier Classroom Companion: Economics 2662-2890 Heterodox Economics Political Economy and Economic Systems Macroeconomics and Monetary Economics Microeconomics Resource and Environmental Economics Economic Policy Schools of economics Economics Macroeconomics Power resources Environmental economics Economic policy Erscheint auch als Online-Ausgabe 978-3-031-51436-4 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=035266850&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Roos, Michael W. M. 1973- Principles of Complexity Economics Concepts, Methods and Applications Heterodox Economics Political Economy and Economic Systems Macroeconomics and Monetary Economics Microeconomics Resource and Environmental Economics Economic Policy Schools of economics Economics Macroeconomics Power resources Environmental economics Economic policy |
title | Principles of Complexity Economics Concepts, Methods and Applications |
title_auth | Principles of Complexity Economics Concepts, Methods and Applications |
title_exact_search | Principles of Complexity Economics Concepts, Methods and Applications |
title_full | Principles of Complexity Economics Concepts, Methods and Applications Michael Roos |
title_fullStr | Principles of Complexity Economics Concepts, Methods and Applications Michael Roos |
title_full_unstemmed | Principles of Complexity Economics Concepts, Methods and Applications Michael Roos |
title_short | Principles of Complexity Economics |
title_sort | principles of complexity economics concepts methods and applications |
title_sub | Concepts, Methods and Applications |
topic | Heterodox Economics Political Economy and Economic Systems Macroeconomics and Monetary Economics Microeconomics Resource and Environmental Economics Economic Policy Schools of economics Economics Macroeconomics Power resources Environmental economics Economic policy |
topic_facet | Heterodox Economics Political Economy and Economic Systems Macroeconomics and Monetary Economics Microeconomics Resource and Environmental Economics Economic Policy Schools of economics Economics Macroeconomics Power resources Environmental economics Economic policy |
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