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Linking complexity economics and systems thinking, with illustrative discussions of urban sustainability

Author

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  • S Şerban Scrieciu
  • Nici Zimmermann
  • Zaid Chalabi
  • Mike Davies

Abstract

The expanding research of complexity economics has been signalling its preference for a formal quantitative investigation of diverse interactions between heterogeneous agents at the lower, micro-level resulting in emergent, realistic socioeconomic dynamics at the higher, macro-level. However, there is scarcity in research that explicitly links complexity perspectives in economics with the systems thinking literature, despite these being highly compatible, with strong connections and common historical traces. We aim to address this gap by exploring commonalities and differences between the two bodies of knowledge, seen particularly through an economics lens. We argue for a hybrid approach, in that agent-based complexity perspectives in economics could more closely connect to two main systems thinking attributes: a macroscopic approach to analytically capturing the complex dynamics of systems, and an inter-subjective interpretivist dimension, when investigating complex social-economic order. Illustrative discussions of city sustainability are provided, with an emphasis on decarbonisation and residential energy demand aspects.

Suggested Citation

  • S Şerban Scrieciu & Nici Zimmermann & Zaid Chalabi & Mike Davies, 2021. "Linking complexity economics and systems thinking, with illustrative discussions of urban sustainability," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 45(4), pages 695-722.
    • Handle: RePEc:oup:cambje:v:45:y:2021:i:4:p:695-722.
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    File URL: http://hdl.handle.net/10.1093/cje/beab017
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    Citations

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    Cited by:

    1. Silvio Cristiano & Samuele Zilio, 2021. "Whose Health in Whose City? A Systems Thinking Approach to Support and Evaluate Plans, Policies, and Strategies for Lasting Urban Health," Sustainability, MDPI, vol. 13(21), pages 1-19, November.
    2. de Moura, Fernanda Senra & Barbrook-Johnson, Peter, 2022. "Using data-driven systems mapping to contextualise complexity economics insights," INET Oxford Working Papers 2022-27, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    3. María Guadalupe Montiel-Hernández & Carla Carolina Pérez-Hernández & Blanca Cecilia Salazar-Hernández, 2024. "The Intrinsic Links of Economic Complexity with Sustainability Dimensions: A Systematic Review and Agenda for Future Research," Sustainability, MDPI, vol. 16(1), pages 1-26, January.
    4. César García-Díaz, 2021. "Design, systems approaches, and the engineering-economics nexus," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 48(4), pages 601-607, December.

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