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Entangled economy: An ecosystems approach to modeling systemic level dynamics

Author

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  • Robalino, Juan David
  • Jensen, Henrik Jeldtoft

Abstract

We present a model of an economy inspired by individual based model approaches in evolutionary ecology. We demonstrate that evolutionary dynamics in a space of companies interconnected through a correlated interaction matrix produces time dependencies of the total size of the economy, total number of companies, companies’ age and capital distribution that compares well with statistics for the USA. We discuss the relevance of our modeling framework to policy making.

Suggested Citation

  • Robalino, Juan David & Jensen, Henrik Jeldtoft, 2013. "Entangled economy: An ecosystems approach to modeling systemic level dynamics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(4), pages 773-784.
  • Handle: RePEc:eee:phsmap:v:392:y:2013:i:4:p:773-784
    DOI: 10.1016/j.physa.2012.10.037
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    References listed on IDEAS

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    1. Kling Arnold, 2011. "PSST: Patterns of Sustainable Specialization and Trade," Capitalism and Society, De Gruyter, vol. 6(2), pages 1-20, December.
    2. Laird, Simon & Jensen, Henrik Jeldtoft, 2007. "Correlation, selection and the evolution of species networks," Ecological Modelling, Elsevier, vol. 209(2), pages 149-156.
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    Cited by:

    1. Aiyshwariya Paulvannan Kanmani & Renee Obringer & Benjamin Rachunok & Roshanak Nateghi, 2020. "Assessing Global Environmental Sustainability Via an Unsupervised Clustering Framework," Sustainability, MDPI, vol. 12(2), pages 1-12, January.
    2. Pável Vázquez & Jesús A del Río & Karla G Cedano & Manuel Martínez & Henrik J Jensen, 2015. "An Entangled Model for Sustainability Indicators," PLOS ONE, Public Library of Science, vol. 10(8), pages 1-12, August.
    3. Rudy Arthur & Arwen Nicholson & Paolo Sibani & Michael Christensen, 2017. "The Tangled Nature Model for organizational ecology," Computational and Mathematical Organization Theory, Springer, vol. 23(1), pages 1-31, March.
    4. Arthur, R. & Sibani, P., 2017. "Decision making on fitness landscapes," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 471(C), pages 696-704.

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