Entangled economy: An ecosystems approach to modeling systemic level dynamics
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.
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Volume (Year): 392 (2013)
Issue (Month): 4 ()
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- Kling Arnold, 2011. "PSST: Patterns of Sustainable Specialization and Trade," Capitalism and Society, De Gruyter, vol. 6(2), pages 1-20, December.
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