Evolutionary Dynamics and Economic Complexity

Murat Yildizoglu

Yildiz Social Science Review, 2017, vol. 3, issue 2, 1-18

Abstract: We propose in this article a quick introduction to the evolutionary analysis of complex economic dynamics. When we look at the economic dynamics as resulting from the workings of a Complex Adaptive System (CAS), our attention necessarily focuses on new questions, and our analytical efforts need the development of new modeling methods. After having quickly discussed the properties of CAS in Economics, the article illustrates them more in detail using the example of industrial dynamics where this approach has historically been developed first. This discussion is followed by an introduction to the main methods used for analyzing CAS, and develops an example model of industry dynamics (Nelson & Winter 1892, part V). We also give an analytically organized bibliography to provide the reader with an entry point to an already very large literature.

Keywords: Economic dynamics; Complex adaptive systems; Evolutionary modeling; Learning; Computational economics.Journal: Yildiz Social Science Review (search for similar items in EconPapers)
JEL-codes: F00 F30 G00 G10 K00 K20 M00 M20 O10 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aye:journl:v:3:y:2017:i:2:p:1-18

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