Neoclassical economics is heavily based on a formalistic method, primarily centred on mathematical deduction. Consequently, mainstream economists became overfocused on describing the states of an economy rather than understanding the processes driving these states. However, many phenomena arise...

The aim of this Element is to understand how far mathematical theories based on active particle methods have been applied to describe the dynamics of complex systems in economics, and to look forward to further research perspectives in the interaction between mathematics and economics. The...

This Element works as non-technical overview of Agent-Based Modelling (ABM), a methodology which can be applied to economics, as well as fields of natural and social sciences. This Element presents the introductory notions and historical background of ABM, as well as a general overview of the...