ECONOPHYSICS AND ECONOMIC COMPLEXITY

J. Barkley Rosser

Advances in Complex Systems (ACS), 2008, vol. 11, issue 05, 745-760

Abstract: This paper discusses the debate between those advocating a computational and those advocating a dynamic definition of complexity, and how this relates to issues in econophysics. It then reviews the criticisms that have been raised about ways in which econophysics has been done, noting that many of these are now being dealt with. Finally, it argues that while an obvious way to resolve many of these matters is to have economists and physicists work together, the physicists should be sure to work with economists who understand the complexity critique of conventional economic theory and are thus not led astray into building models that have some of the problems of standard economics models that most econophysicists have striven to overcome.

Keywords: Bubbles and crashes; complexity; econophysics; emergence (search for similar items in EconPapers)
Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (27)

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0219525908001957
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:acsxxx:v:11:y:2008:i:05:n:s0219525908001957

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0219525908001957

Access Statistics for this article

Advances in Complex Systems (ACS) is currently edited by Frank Schweitzer

More articles in Advances in Complex Systems (ACS) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().