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Troy L. Tassier

In: 21st Century Economics: A Reference Handbook

Chapter 86: Complexity and Economics

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Complexity and Economics
Complexity and economics

Complex systems research is a growing field in economics as well as other social and natural sciences. Complex systems research aims to understand underlying phenomena that regularly occur across various complex systems, whether those systems occur in physics, chemistry, biology, social sciences, or any other discipline. Thus, throughout the field, one finds models and methodologies being shared across disciplines. For instance, one finds statistical mechanics methods from physics applied to the study of infectious diseases in epidemiology. The study of economics from a complex systems or complexity perspective is closely tied to the study of complex systems in general.

Defining what is meant by a complex system or complexity can be a difficult task. When one looks up the root word ...

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