Discussion forum

Keynote papers

Strategies in relation to complexities: From neoclassical Cost-Benefit Analysis to Positional Analysis

In this essay neoclassical Cost-Benefit Analysis (CBA) is criticized as beinng too simplistic and also too specific in ideological terms. Positional Analysis (PA) is advocated as an alternative based on a definition of economics in terms of multidimensional analysis and …
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A Cognitive Behavioral Modelling for Coping with Intractable Complex Phenomena in Economics and Social Science: Deep Complexity

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Contributions from the History of Economics

Complexity in the theory of economic evolution of Thorstein Veblen: an introduction

Thorstein Veblen is a classic author, recognized for his writings on institutions and economic change. The complexity perspective, on the other hand, is a relatively contemporary approach for studying a considerable range of phenomena both in natural and social sciences. …
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Complexity and Agency

Limitations on the Perspective of Representative Economic Agent: Agent Based Model’s Alternative

Economic Science emerges from the questions about the behavior human, conflict and social order. Smith, preoccupied with the complexity of social relations and economic phenomena, point out the individual as basis of Political Economics. For the author, social and economic …
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Autonomous Agents and Economic Complexities: A Philosophical Excursion

This paper develops a conception of autonomous agents who, lacking the ready-made and complete list of possible states afforded their DSGE counterparts, must envision their own ―state space.‖ Such agents can and must do more than perform constrained optimization exercises; …
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Complexity and Economics

Nobody will discuss that the economy constitutes a very complex system. The traditional approach to understanding it has been to reduce complexities to simple rules and behaviors, abstracting of many features of the real economy. An alternative to reductionism consists …
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Changing Economics

Developing a perspective on transition economies as complex systems

Decades of blindly following mainstream economic policy has opened a new potentiality of research, especially since most of the phenomena that occur around us are caused by and interact with many other parts within a complex globalised world. The objective …
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Methodological Dimension

What is complexity economics, why is it heterodox, and what are its policy implications?

Complexity economics has developed into a powerful empirical, theoretical, and computational research program in the last three decades, advancing more realistic economics. It converges with long-standing heterodox schools, and its theoretical and empirical findings are consistent with older heterodox research …
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Agent-Based Modeling’s Open Methodology Approach:Simulation, Reflexivity, and Abduction

This paper argues that agent-based modeling’s innovations in method developed in terms of simulation techniques also involve an innovation in economic methodology. It shows how Epstein’s generative science conception departs from conventional methodological reasoning, and employs what I term an …
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Complexity Economics and the Accounting Framework

This working paper introduces a formal language to frame the concept of complexity within economic theory. The purpose is to provide a consistent analytical framework within which the varied aspects of complexity may be given expression. The intuition underlying the …
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