Formal Approaches to Socio Economic Policy Analysis - Past and Perspectives
This paper is motivated by the observation that (1) socio economic analysis uses significantly less formalisms than mainstream economics, and (2) that there exist numerous situations in which socio economics could benefit from a more formal analysis. This is particularly the case if institutions play an important role in the system to be investigated. Starting with a broad conception of a formalism, this paper introduces and discusses five different formal approaches regarding their adequateness for socio economic analysis: The Social Fabric Matrix Approach, the Institutional Analysis and Development Framework, System Dynamics, (Evolutionary) Game Theory, and Agent Based Computational Modeling. As a formal analysis always comes up with implicit ontological and epistemological tendencies, that have to be reflected if the formalism should contribute to a better understanding of the system under investigation, this paper pays particular attention to these tendencies of the considered formalisms. In the end, antagonisms and possible convergences among the formalisms are discussed.
|Date of creation:||15 Jan 2015|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- Geoffrey M. Hodgson, 2003. "The hidden persuaders: institutions and individuals in economic theory," Cambridge Journal of Economics, Oxford University Press, vol. 27(2), pages 159-175, March.
- Hodgson, Geoffrey M. & Knudsen, Thorbjorn, 2004. "The complex evolution of a simple traffic convention: the functions and implications of habit," Journal of Economic Behavior & Organization, Elsevier, vol. 54(1), pages 19-47, May.
- John Geanakoplos & Robert Axtell & J. Doyne Farmer & Peter Howitt & Benjamin Conlee & Jonathan Goldstein & Matthew Hendrey & Nathan M. Palmer & Chun-Yi Yang, 2012.
"Getting at Systemic Risk via an Agent-Based Model of the Housing Market,"
American Economic Review,
American Economic Association, vol. 102(3), pages 53-58, May.
- John Geanakoplos & Robert Axtell & Doyne J. Farmer & Peter Howitt & Benjamin Conlee & Jonathan Goldstein & Matthew Hendrey & Nathan M. Palmer & Chun-Yi Yang, 2012. "Getting at Systemic Risk via an Agent-Based Model of the Housing Market," Cowles Foundation Discussion Papers 1852, Cowles Foundation for Research in Economics, Yale University.
- Gräbner, Claudius, 2016.
"Agent-based computational models– a formal heuristic for institutionalist pattern modelling?,"
Journal of Institutional Economics,
Cambridge University Press, vol. 12(01), pages 241-261, March.
- Gräbner, Claudius, 2014. "Agent-Based Computational Models - A Formal Heuristic for Institutionalist Pattern Modelling?," MPRA Paper 56415, University Library of Munich, Germany.
- Vittorio Pelligra, 2011.
"Intentions, Trust and Frames: A Note on Sociality and the Theory of Games,"
Review of Social Economy,
Taylor & Francis Journals, vol. 69(2), pages 163-188.
- V. Pelligra, 2007. "Intentions, Trust and Frames: A note on Sociality and the Theory of Games," Working Paper CRENoS 200702, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
- Chen, Shu-Heng, 2012. "Varieties of agents in agent-based computational economics: A historical and an interdisciplinary perspective," Journal of Economic Dynamics and Control, Elsevier, vol. 36(1), pages 1-25.
- repec:cup:apsrev:v:86:y:1992:i:02:p:404-417_08 is not listed on IDEAS
- Elsner, Wolfram & Heinrich, Torsten & Schwardt, Henning, 2014. "The Microeconomics of Complex Economies," Elsevier Monographs, Elsevier, edition 1, number 9780124115859.
- Brais Alvarez-Pereira & Catherine S. E. Bale & Bernardo Alves Furtado & James E. Gentile & Claudius Gräbner & Heath Henderson & Francesca Lipari, 2015. "Social Institutions and Economic Inequality: Modeling the Onset of the Kuznets Curve," Discussion Papers 0204, Instituto de Pesquisa Econômica Aplicada - IPEA.
- 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.
- Wolfram Elsner & Frederic S. Lee, 2010. "Editors' Introduction," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(5), pages 1333-1344, November.
- Albin, Peter & Foley, Duncan K., 1992. "Decentralized, dispersed exchange without an auctioneer : A simulation study," Journal of Economic Behavior & Organization, Elsevier, vol. 18(1), pages 27-51, June.
- Wolfram Elsner, 2012. "The Theory of Institutional Change Revisited: The Institutional Dichotomy, Its Dynamic, and Its Policy Implications in a More Formal Analysis," Journal of Economic Issues, M.E. Sharpe, Inc., vol. 46(1), pages 1-44.
- Joshua M. Epstein & Robert L. Axtell, 1996. "Growing Artificial Societies: Social Science from the Bottom Up," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550253, January.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:61348. 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: (Joachim Winter)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.