Entangled Economy: an ecosystems approach to modeling systemic level dynamics
AbstractWe 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 USA. We discuss the relevance of our modeling framework to policy making.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1207.6091.
Date of creation: Jul 2012
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Web page: http://arxiv.org/
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-07-29 (All new papers)
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- Kling Arnold, 2011. "PSST: Patterns of Sustainable Specialization and Trade," Capitalism and Society, De Gruyter, De Gruyter, vol. 6(2), pages 1-20, December.
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