IDEAS home Printed from https://ideas.repec.org/a/sae/pophec/v11y2012i1p45-75.html
   My bibliography  Save this article

Complexity, economics, and public policy

Author

Listed:
  • Steven N. Durlauf

    () (University of Wisconsin, USA)

Abstract

This article considers the implications of complex systems models for the study of economics and the evaluation of public policies. I argue that complexity can enhance current approaches to formal economic analysis, but does so in ways that complement current approaches. I further argue that while complexity can influence how public policy analysis is conducted, it does not delimit the use of consequentialist approaches to policy comparison to the degree initially suggested by Hayek and most recently defended by Gaus.

Suggested Citation

  • Steven N. Durlauf, 2012. "Complexity, economics, and public policy," Politics, Philosophy & Economics, , vol. 11(1), pages 45-75, February.
  • Handle: RePEc:sae:pophec:v:11:y:2012:i:1:p:45-75
    as

    Download full text from publisher

    File URL: http://ppe.sagepub.com/content/11/1/45.abstract
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:spr:bioerq:v:2:y:2017:i:3:d:10.1007_s41247-017-0026-z is not listed on IDEAS
    2. Robinson, Scott A. & Rai, Varun, 2015. "Determinants of spatio-temporal patterns of energy technology adoption: An agent-based modeling approach," Applied Energy, Elsevier, vol. 151(C), pages 273-284.
    3. Ausloos, Marcel & Jovanovic, Franck & Schinckus, Christophe, 2016. "On the “usual” misunderstandings between econophysics and finance: Some clarifications on modelling approaches and efficient market hypothesis," International Review of Financial Analysis, Elsevier, vol. 47(C), pages 7-14.
    4. Robert Kitt, 2016. "Complex Endogenous Growth Model and Its Applications," Research in Economics and Business: Central and Eastern Europe, Tallinn School of Economics and Business Administration, Tallinn University of Technology, vol. 8(1).
    5. Elsner, Wolfram, 2015. "Policy Implications of Economic Complexity and Complexity Economics," MPRA Paper 63252, University Library of Munich, Germany.
    6. Jovanovic, Franck & Schinckus, Christophe, 2017. "Econophysics and Financial Economics: An Emerging Dialogue," OUP Catalogue, Oxford University Press, number 9780190205034.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:pophec:v:11:y:2012:i:1:p:45-75. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (SAGE Publications). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.