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Adaptive Behavior, Market Processes and the Computable Approach

Author

Listed:
  • Axel Leijonhufvud

    (University of Trento, Italy)

Abstract

Economies are evolving, complex, adaptive dynamic systems. Yet mainstream economics seems committed to an alien and unpromising methodology. Computable Economics attempts to reorient economics in a direction that will enable us to learn from new methods of investigation that have been developed in areas such ecology, brain research, and computer science, which deal with evolving complex dynamic systems. This paper intends to discuss what keeps standard economics from adopting the perspective of complex dynamic systems theory.

Suggested Citation

  • Axel Leijonhufvud, 1999. "Adaptive Behavior, Market Processes and the Computable Approach," Brazilian Electronic Journal of Economics, Department of Economics, Universidade Federal de Pernambuco, vol. 2(2), June.
    • Handle: RePEc:bej:issued:v:1:y:1999:i:2:axel
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    Cited by:

    1. is not listed on IDEAS
    2. Edoardo Gaffeo & Domenico Delli Gatti & Saul Desiderio & Mauro Gallegati, 2008. "Adaptive Microfoundations for Emergent Macroeconomics," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 34(4), pages 441-463.
    3. Vicente Moreno-Casas, 2024. "What can complexity learn from Misesian economics?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 37(3), pages 267-291, September.

    More about this item

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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