Modeling Complex Systems

Anastasios Xepapadeas

MPRA Paper from University Library of Munich, Germany

Abstract: 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: Complex adaptive systems; differential games; spatiotemporal dynamics; fast-slow variables. (search for similar items in EconPapers)
JEL-codes: C6 Q2 (search for similar items in EconPapers)
Date: 2009-08-15
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Related works:
Journal Article: Modeling complex systems (2010)
Working Paper: Modelling Complex Systems (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:17498

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