Complexity Modelling in Economics: the State of the Art
Bruna Bruno (),
Marisa Faggini () and
Anna Parziale ()
Additional contact information
Marisa Faggini: University of Salerno, Italy
Anna Parziale: University of Salerno, Italy
Economic Thought, 2016, vol. 5, issue 2, 29 - 43
The economic crisis happening across the world over the last few years describes a range of interdependencies and interactions,and has highlighted the fundamentalf laws of neoclassical economic theory: its unedifying focus on prediction and, above all, its inability to explain how the economy really works. As such, it is increasingly recognised that economic phenomena cannot be exclusively investigated as being derived from deterministic, predictable and mechanistic dynamics. Instead, a new approach is required by which history-dependence, organic and ever-evolving processes are also accounted for. As this view implies new challenges and opportunities for policy, we will focus our attention on innovative components of Complexity Theory for the study of economics and the evaluation of public policies.
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://et.worldeconomicsassociation.org/papers/com ... he-state-of-the-art/ (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:wea:econth:v:5:y:2016:i:2:p:29
Access Statistics for this article
Economic Thought is currently edited by Kyla Rushman
More articles in Economic Thought from World Economics Association Contact information at EDIRC.
Series data maintained by Jake McMurchie ().