Modelling Complex Systems

Anastasios Xepapadeas

No 53216, 2009 Conference, August 16-22, 2009, Beijing, China from International Association of Agricultural Economists

Abstract: Empirical observations suggest that linear dynamics are not an adequate representa- tion of ecological systems and that a realistic representation would require adoption of complex nonlinear dynamical systems with characteristics encountered in complex adaptive systems (CAS). Adequate modelling should include and combine, among others, strategic interactions among economic agents, nonconvexities induced by non-linear feedbacks, separate spatial and temporal scales and modeling of spatiotempo- ral dynamics, and allowance of alternative time scales. Ignoring these characteristics might obscure very important features that we observe in reality such as bifurcations and irreversibilities or hysteresis. As a consequence, the design of policies that do not take CAS characteristics into account might lead to erroneous results and undesirable states of managed economic-ecological systems.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Pages: 17
Date: 2009
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Journal Article: Modeling complex systems (2010)
Working Paper: Modeling Complex Systems (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae09:53216

DOI: 10.22004/ag.econ.53216

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