Complexity economics
Application of complexity science to economics / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Complexity economics?
Summarize this article for a 10 year old
SHOW ALL QUESTIONS
This article is about the application of complexity science to the problems of economics. For its application to strategy, see Complexity theory and organizations. For other uses, see Complexity theory (disambiguation).
Complexity economics is the application of complexity science to the problems of economics. It relaxes several common assumptions in economics, including general equilibrium theory. While it does not reject the existence of an equilibrium, it sees such equilibria as "a special case of nonequilibrium", and as an emergent property resulting from complex interactions between economic agents.[1][2][3] The complexity science approach has also been applied to computational economics.[4]