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Computability and Evolutionary Complexity: Markets as Complex Adaptive Systems (CAS)

Listed author(s):
  • Sheri M. Markose

Few will argue that the epi-phenomena of biological systems and socio-economic systems are anything but complex. The purpose of this Feature is to examine critically and contribute to the burgeoning multi-disciplinary literature on markets as complex adaptive systems (CAS). The new sciences of complexity, the principles of self-organisation and emergence along with the methods of evolutionary computation and artificially intelligent agent models have been developed in a multi-disciplinary fashion. The cognoscenti here consider that complex systems whether natural or artificial, physical, biological or socio-economic can be characterised by a unifying set of principles. Further, it is held that these principles mark a paradigm shift from earlier ways of viewing such phenomenon. Copyright 2005 Royal Economic Society.

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Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 115 (2005)
Issue (Month): 504 (06)
Pages: 159-192

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Handle: RePEc:ecj:econjl:v:115:y:2005:i:504:p:f159-f192
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