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Job search theory involves perfectly rational, maximising actors which make decisions under imperfect information. In the paper we simulate a labour market which works differently: heterogeneous firms and workers interact following rules that place only bounded demands on their computational...
Persistent link: https://www.econbiz.de/10005537569
An important perspective use of Agent-based models (ABMs) is that of being employed as tools to support decision systems in policy-making, in the complex systems framework. Such models can be usefully employed at two different levels: to help in deciding (policy-maker level) and to empower the...
Persistent link: https://www.econbiz.de/10011162534
There is considerable discussion on the so-called “mainstream pluralism”, which stems from the growth and coexistence of new research programs in economics that significantly deviate from the neoclassical core. Other disciplines have actively contributed to the birth of such programs, that...
Persistent link: https://www.econbiz.de/10011185184
The complexity approach to economics largely originated from the «Santa Fe Perspective»: the view of a group of scientists working in the Economics Program (1988- 2004) at the Santa Fe Institute for the Study of Complex Systems (hereafter sfi).1 This paper tells the story of the Santa Fe...
Persistent link: https://www.econbiz.de/10010903021
Persistent link: https://www.econbiz.de/10010903056
My analysis focuses on two main observations. First, many competing schools of thoughts are currently present in economics with no predominant paradigm. We are experiencing an era of pluralism (Davis J Econ Methodol 14(3):275–290, <CitationRef CitationID="CR24">2007</CitationRef>, Camb J Econ 32:249–366, <CitationRef CitationID="CR25">2008</CitationRef>; Colander <CitationRef CitationID="CR19">2000</CitationRef>; Colander...</citationref></citationref></citationref>
Persistent link: https://www.econbiz.de/10011001821
This paper presents the analysis of a dataset of publications in economics that makes use of simulations. Data areas explored in order to obtain information about diffusion of simulation techniques in time and across sub-disciplines. Moreover, following Robert Axelrod\'s concerns about the...
Persistent link: https://www.econbiz.de/10005650027
Persistent link: https://www.econbiz.de/10005155771
This paper is essentially a rebuttal of the view that neoclassical economics can handle complexity. I have coined the locution 'oil spot dynamic' to denote the neoclassical ability to subsume each and every new perspective. The main part of the paper is devoted to showing why the oil spot...
Persistent link: https://www.econbiz.de/10008860854
There is considerable discussion on the so-called “mainstream pluralism”, which stems from the growth and coexistence of new research programs in economics that significantly deviate from the neoclassical core. Other disciplines have actively contributed to the birth of such programs, that...
Persistent link: https://www.econbiz.de/10011213953