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New Perspectives on Institutionalist Pattern Modeling: Systemism, Complexity, and Agent-Based Modeling

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  • Claudius Gräbner
  • Jakob Kapeller

Abstract

We focus on the complementarity between original institutional economics, Mario Bunge’s framework of systemism, and the formal tools developed by complexity economists, especially in the context of agent-based modeling. We assert that original institutional economics might profit from exploiting this complementarity.

Suggested Citation

  • Claudius Gräbner & Jakob Kapeller, 2015. "New Perspectives on Institutionalist Pattern Modeling: Systemism, Complexity, and Agent-Based Modeling," Journal of Economic Issues, Taylor & Francis Journals, vol. 49(2), pages 433-440, April.
    • Handle: RePEc:mes:jeciss:v:49:y:2015:i:2:p:433-440
    DOI: 10.1080/00213624.2015.1042765
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    1. Manuel Wäckerle & Bernhard Rengs & Wolfgang Radax, 2014. "An Agent-Based Model of Institutional Life-Cycles," Games, MDPI, vol. 5(3), pages 1-28, August.
    2. Charles K. Wilber & Robert S. Harrison, 1978. "The Methodological Basis of Institutional Economics: Pattern Model, Storytelling, and Holism," Journal of Economic Issues, Taylor & Francis Journals, vol. 12(1), pages 61-89, March.
    3. G. Hodgson, 2007. "What Are Institutions?," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 8.
    4. Veblen, Thorstein, 2009. "The Theory of the Leisure Class," OUP Catalogue, Oxford University Press, number 9780199552580 edited by Banta, Martha.
    5. Elsner, Wolfram & Heinrich, Torsten, 2009. "A simple theory of 'meso'. On the co-evolution of institutions and platform size--With an application to varieties of capitalism and 'medium-sized' countries," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(5), pages 843-858, October.
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    Citations

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    Cited by:

    1. Walter, Timo & Wansleben, Leon, 2019. "The assault of finance’s ‘present futures’ on the rest of time," SocArXiv 8dyq2, Center for Open Science.
    2. Leigh Tesfatsion, 2017. "Modeling economic systems as locally-constructive sequential games," Journal of Economic Methodology, Taylor & Francis Journals, vol. 24(4), pages 384-409, October.
    3. Claudius Gräbner & Anna Hornykewycz, 2022. "Capability accumulation and product innovation: an agent-based perspective," Journal of Evolutionary Economics, Springer, vol. 32(1), pages 87-121, January.
    4. Aistleitner, Matthias & Gräbner, Claudius & Hornykewycz, Anna, 2021. "Theory and empirics of capability accumulation: Implications for macroeconomic modeling," Research Policy, Elsevier, vol. 50(6).
    5. Claudius Graebner & Stephan Puehringer, 2021. "Competition universalism: Its historical origins and timely alternatives," ICAE Working Papers 125, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    6. Claudius Gräbner, 2017. "The Complementary Relationship Between Institutional and Complexity Economics: The Example of Deep Mechanismic Explanations," Journal of Economic Issues, Taylor & Francis Journals, vol. 51(2), pages 392-400, April.
    7. Tesfatsion, Leigh, 2017. "Modeling Economic Systems as Locally-Constructive Sequential Games," ISU General Staff Papers 201704300700001022, Iowa State University, Department of Economics.
    8. Claudius Gräbner & Catherine S. E. Bale & Bernardo Alves Furtado & Brais Alvarez-Pereira & James E. Gentile & Heath Henderson & Francesca Lipari, 2019. "Getting the Best of Both Worlds? Developing Complementary Equation-Based and Agent-Based Models," Computational Economics, Springer;Society for Computational Economics, vol. 53(2), pages 763-782, February.
    9. Radosevic, Slavo, 2022. "Techno-economic transformation in Eastern Europe and the former Soviet Union – A neo-Schumpeterian perspective," Research Policy, Elsevier, vol. 51(1).
    10. Gräbner, Claudius, 2016. "From realism to instrumentalism - and back? Methodological implications of changes in the epistemology of economics," MPRA Paper 71933, University Library of Munich, Germany.
    11. Heinrich, Torsten, 2016. "The Narrow and the Broad Approach to Evolutionary Modeling in Economics," MPRA Paper 75797, University Library of Munich, Germany.
    12. Katrin Hirte, 2020. "Friedman's Instrumentalismus und das Problem von Kopernikus," ICAE Working Papers 114, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.

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    More about this item

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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