the complexity stemming from interactions among components of a system. For this reason NK models have been applied in … complexity. However, the paper suggests that NK suffers from un-necessary limitations and difficulties due to its peculiar …

The level and nature of complexity is widely regarded as an important determinant of a number of economic …, technological and organizational phenomena. A popular modeling tool for the representation of complexity in economics and … organizational sciences is the NK model that represents the complexity stemming from the interactions among the elements of a system …