Routledge International Handbook of Complexity Economics

Name: Routledge International Handbook of Complexity Economics
Brand: Routledge
Price: 62.49 EUR
Availability: OnlineOnly

Ping Chen Wolfram Elsner Andreas Pyka(Herausgeber*in)

Routledge (Verlag)

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Erschienen am 29. November 2024

766 Seiten

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Beschreibung

The Routledge International Handbook of Complexity Economics covers the historical developments and early concerns of complexity theorists and brings them into engagement with the world today.

In this volume, a distinguished group of international scholars explore the state of the art of complexity economics, and how it may deliver new and relevant insights to the challenges of the 21st century. Complexity science started in 1899 when Henri Poincare described the three-body problem. The first approaches in economics emerged somewhat later, in the 1980s, driven by the Brussels-Austin school. Since then, complexity economics has gone through numerous developments: departing from linear simplifications, applying physical algorithms, to evolutionary economics and big data. This book covers the basic principles and methods, and offers an overview of the various domains-ranging from diverse fields of productivity studies, agricultural economics, to monetary economics-as well as the current challenges such as climate change, epidemics and economic inequality where complexity economics can provide insight. It closes with a review of complexity political economy and policy.

Offering a vibrant alternative to orthodox economics, this handbook is a crucial resource for advanced students, researchers and economists across the disciplines of heterodox economics, economic theory and econophysics.

Rezensionen / Stimmen

The complexity economics, based on physical algorithms and statistics to analyze economic mass data and time-series, provides an alternative paradigm to the overly-simplified mainstream rationality assumption-based Neoclassical approach for understanding macro growth, structural transformation, climate change, financial crises, trade wars and other real-world phenomena. This Handbook collects recent progresses and new insights by authors in this new discipline. I recommend the book to scholars who are interested in this new approach.

Justin Yifu Lin
Professor and Dean, Institute of New Structural Economics, Peking University, China
Former Chief Economist, the World Bank

The economic system is a supremely complex one. The traditional approach to understanding it has been to reduce complexities to simple rules and behaviors, abstracting many features of the real economy. However, thanks to the enormous increases in both the amount of data available and computing power, there is nowadays an alternative approach: the one proposed by complexity economics, a fast-growing field in economic analysis.

The Handbook of Complexity Economics provides a thorough and updated vision of this very promising field and will surely encourage many scholars to deepen research in this area.

Victor A. Beker
Professor of Economics, University of Belgrano and University of Buenos Aires, Argentina
Former Associate Editor of Journal of Behavior and Organization

Timely and compact one-volume from a set of economists uniquely positioned to contribute about complexity. The result is an up-to-date, integrated, compelling, canonical guide-book on the contours and contents of an approach that is extremely remunerative for theory as well as actual practice in the 21st century economy. Older and younger generations now have a fresh meeting point from where to breathe new life into the most pressing intellectual and societal challenges of our age.

Sandro Mendonca
Iscte Business School, Portugal
Former communications regulator

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Inhalt

The Complexity of Complexity Economics, Its History and Interdisciplinarity and Its Diverse Perspectives and Future: Introduction

Ping Chen, Wolfram Elsner and Andreas Pyka

PART I Basics and Methods in Complexity Economics

I.1 Basics

1 Stairway to Complexity

Mauro Gallegati and Alan Kirman

2 Aspects of Discrete and Continuous Complexity Theories

K. Vela Velupillai

3 Knowledge Is Non-fungible

Cesar A. Hidalgo

4 What Are Reflexive Economic Agents? Position-adjustment, SLAM, and Self-Organization

John B. Davis

5 Complexity, Coevolution, and the Economy

Pier Paolo Saviotti

6 Complexity Economics: History, Issues, and Methods

Ping Chen

I.2 Methods

7 Some Thoughts on Agent-Based Modeling and the Role of Computation in Economics

W. Brian Arthur

8 Economic Complexity in the Real World

James K. Galbraith

9 Complexity Science in the Application of Big Data Economics

Linyuan Lue, Shuqi Xu and Xu Na

10 Agent-Based Modelling and Machine Learning: A New Paradigm for Complexity Economics and Sustainability Transitions?

Kristina Bogner, Matthias Mueller, Johannes Dahlke, Bernd Ebersberger and Thomas Berger

11 The Resilience of a Complex Network: Methods and Applications

Roy Cerqueti, Matteo Cinelli, Giovanna Ferraro and Antonio Iovanella

12 Exploration of the Parameter Space in Macroeconomic Models

Karl Naumann-Woleske, Max Sina Knicker, Michael Benzaquen and Jean-Philippe Bouchaud

13 Stock-Flow-Consistent Macroeconomic Dynamics in Continuous Time

Gael Giraud and Paul Valcke

PART II Domains and Major Challenges

II.1 Domains

14.1 Monetary Economics from Econophysics Perspective

Victor M. Yakovenko

14.2 Statistical Physics Perspective on Economic Inequality

Victor M. Yakovenko

15 Price Theory in a Complex and Evolving Economy

Harry Bloch and Stan Metcalfe

16 Complexity and Productivity: The Task Approach

Roger A. McCain

17 From Economic Chaos to Viable Markets: The Biophysics Foundation of Smith's Theory on the Division of Labor and Schumpeter's Wave Theory of Business Cycles

Ping Chen

18 The Evolution of Innovation

Petra Ahrweiler

19 Agriculture as a Social-Ecological System

Thomas Berger

20 Network Complexity and Financial Behavior: Volume Distribution over Price in Financial Market

Bing-Hong Wang and Leilei Shi

21 Trading Psychology and Market Resilience: From Brownian Motion to Birth-Death Process in Financial Dynamics

Y.N. Tang

22 Complex World Money: A Different Sign System of Global Social Value Waits at the Doors

Hardy Hanappi

23 The European Union as a Complex System in Times of Crisis

Eva Kuruczleki, Anita Pelle and Marcell Zoltan Vegh

II.2 New Challenges

24 Socio-Economic Implications of the Digital Revolution

Dirk Helbing and Carina I. Hausladen

25 Agent-Based Macroeconomics of Climate and Digital Transformations

Marcello Nieddu, Marco Raberto and Silvano Cincotti

26 Economic Impacts of Natural Hazards and Complexity Science: A Critical Review

Matteo Coronese and Davide Luzzati

27 Climate Change from the Perspective of Complexity Economics

Michael W.M. Roos

28 Epidemics in Modern Economies

Torsten Heinrich

29 A Biophysical Approach to Production Theory

Jing Chen and James K. Galbraith

30 Digital Foundations of Evolvable Genomic Intelligence and Human Proteanism: Complexity with Novelty Production beyond Bounded Rationality

Sheri M. Markose

31 Economic Complexity and Inequality at the National and Regional Levels

Dominik Hartmann and Flavio L. Pinheiro

PART III Political Economy and Complexity Policy

III.1 Complexity Political Economy

32 An Agenda for Complex Systems Research in Political Economy

Hilton L. Root

33 Planetary-Scale Computation, Political Economic Complexity and Hegemony

Manuel Scholz-Wackerle

34 Potential for Mutual Enrichment? Confronting Marxian Economics and Complexity Economics

Frank Beckenbach

III.2 Complexity Policy

35 Using Data-Driven Systems Mapping to Contextualise Complexity Economics Insights

Fernanda Senra de Moura and Pete Barbrook-Johnson

36 The Knowledge Complexity of the European Metropolitan Areas: Selecting and Clustering Their Hidden Features

Carlo Bottai and Martina Iori

37 A Complexity View on the Future of Work: Meta-modelling Exploration of the Multi-sector K+S Agent-Based Model

Giovanni Dosi, Marcelo C. Pereira, Andrea Roventini and Maria Enrica Virgillito

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