Economic Networks

2018-06-19T20:16:19+00:00

Over the past few decades with the rise of information technology and globalization, the global economy has become networked on many different levels. Both its technological infrastructure and its institutional superstructure have become increasingly integrated into dense, multimodal networks, from the micro level of individual organizations all the way up to the global level through global cities and the global supply chains that they enable.

Economic Networks 2018-06-19T20:16:19+00:00

Complexity Economics Overview

2018-06-19T20:57:43+00:00

Complexity economics is an alternative paradigm within economic science based upon complexity theory and nonlinear models. Within this theoretical framework the economy is modeled as an open system composed of heterogeneous agents with bounded rationality, which gives rise to networks of interactions that we call institutions, and macro level non-equilibrium state to the economy that is in constant change driven by internal dynamics.

Complexity Economics Overview 2018-06-19T20:57:43+00:00

Evolutionary Economics

2018-06-19T20:58:03+00:00

Evolutionary economics is an alternative paradigm to economic development that is focused on the internal dynamics through which the macroeconomy generates novel phenomena and changes over time in an evolutionary process, without the guidance of some centralized regulatory mechanism.

Evolutionary Economics 2018-06-19T20:58:03+00:00

Economic Self-Organization

2018-06-19T20:58:34+00:00

Self-organization is the emergence of a globally coherent pattern of organization out of the local interactions between initially independent components. It is in many ways very much counter-intuitive to our traditional beliefs about order having to be imposed from some external top-down design.

Economic Self-Organization 2018-06-19T20:58:34+00:00

Behavioral Economics

2018-06-19T20:58:47+00:00

Behavioral economics is an approach to microeconomics that uses experiments to determine how agents make choices within an economic context, it studies the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences of this to broader economic outcomes.

Behavioral Economics 2018-06-19T20:58:47+00:00

Path Dependency

2018-06-19T20:59:08+00:00

The concept of Path Dependence is used to capture the way in which small, historical contingent events can set off self-reinforcing mechanisms and processes that “lock-in” particular pathways of development.

Path Dependency 2018-06-19T20:59:08+00:00