Incentive Systems

2016-10-04T20:35:42+00:00

The study of incentives is one of the central topics in microeconomics - incentives to work hard, to produce quality products, to study, to invest, to save, etc. How to design institutions that provide good incentives for economic agents has become a central question of economics. Behind this though is the idea of motivation, that is to say, what motives do economic agents operate under.

Economic Networks

2016-10-04T19:40:55+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.

Complexity Economics Book

2017-10-09T18:33:30+00:00

These are interesting times for economic theory, as with information technology and globalization a new form of networked economy is emerging

Complexity Economics Overview

2017-07-23T22:20:28+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.

Evolutionary Economics

2015-12-16T21:50:26+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.

Economic Self-Organization

2015-12-16T21:48:32+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.

Behavioral Economics

2015-12-16T20:28:21+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.

Path Dependency

2015-12-15T22:22:33+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.