The Complexity Revolution and the Future of Economics
The paper considers the change in theoretical and empirical research in modern economics. This change is driven by the emergence of new theoretical approaches associated with the complexity theory and behavioral economics. The author shows that in future economists will reject some basic assumptions of neoclassical economics and adopt many different interdisciplinary approaches in order to study concrete economic problems. These gradual transformations should considerably change the structure of economic knowledge. Formal modeling will be of minor importance and will give place to more applied fields of research.
(This abstract was borrowed from another version of this item.)
|Date of creation:||Aug 2003|
|Date of revision:|
|Contact details of provider:|| |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Daniel J. Benjamin & David I. Laibson, 2003. "Good policies for bad governments: behavioral political economy," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 48(Jun).
When requesting a correction, please mention this item's handle: RePEc:mdl:mdlpap:0319. 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: (Vijaya Wunnava)
If references are entirely missing, you can add them using this form.