Complexity and Evolution

503,-

Kjøp

<b>An exploration of how approaches that draw on evolutionary theory and complexity science can advance our understanding of economics.</b><p>Two widely heralded yet contested approaches to economics have emerged in recent years: one emphasizes evolutionary theory in terms of individuals and institutions; the other views economies as complex adaptive systems. In this book, leading scholars examine these two bodies of theory, exploring their possible impact on economics. Relevant concepts from evolutionary theory drawn on by the contributors include the distinction between proximate and ultimate causation, multilevel selection, cultural change as an evolutionary process, and human psychology as a product of gene-culture coevolution. Applicable ideas from complexity theory include self-organization, fractals, chaos theory, sensitive dependence, basins of attraction, and path dependence. </p><p>The contributors discuss a synthesis of complexity and evolutionary approaches and the challeng