The Allocation of Complexity in Economic Systems

The Allocation of Complexity in Economic Systems

Jason Potts (University of Queensland, Australia), Kate Morrison (Volterra Pacific Pty. Ltd., Australia) and Joseph Clark (University of Queensland, Australia)
Copyright: © 2008 |Pages: 20
DOI: 10.4018/978-1-59904-717-1.ch011
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This chapter isolates a classic allocation problem in the substitution relation between two primary carriers of complex rules—agents and institutions—as a function of the relative costs of embedding rules in these carriers, all subject to the constraint of maintaining overall system complexity. We call this generic model the allocation of complexity, which we propose as a bridge between neoclassical and complexity economics.

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Table of Contents
Pascal Perez
Yin Shan, Ang Yang
Chapter 1
Steven E. Wallis
This chapter seeks to identify the core of complex adaptive systems (CAS) theory. To achieve this end, this chapter introduces innovative methods... Sample PDF
From Reductive to Robust: Seeking the Core of Complex Adaptive Systems Theory
Chapter 2
Gr gor S. Pushnoi, Gordon L. Bonser
Emergent properties of complex adaptive systems (CAS) are explored by means of “agent-based modelling” (ABM), which are compared with results from... Sample PDF
Method of Systems Potential as "Top-Bottom" Technique of the Complex Adaptive Systems Modelling
Chapter 3
David Cornforth, David G. Green
Modularity is ubiquitous in complex adaptive systems. Modules are clusters of components that interact with their environment as a single unit. They... Sample PDF
Modularity and Complex Adaptive Systems
Chapter 4
Russell K. Standish
The term complexity is used informally both as a quality and as a quantity. As a quality, complexity has something to do with our ability to... Sample PDF
Concept and Definition of Complexity
Chapter 5
Hrafn Thorri Thórisson
This chapter presents a theory of natural creativity and its relation to certain features of intelligence and cognitive faculties. To test the... Sample PDF
Emergence of Creativity: A Simulation Approach
Chapter 6
Thomy Nilsson
Information bottlenecks are an inevitable consequence when a complex system adapts by increasing its information input. Input and output bottlenecks... Sample PDF
Solving the Sensory Information Bottleneck to Central Processing in Adaptive Systems
Chapter 7
Kurt A. Richardson
In this supposed “information age,” a high premium is put on the widespread availability of information. Access to as much information as possible... Sample PDF
Complexity, Information, and Robustness: The Role of Information “Barriers” in Boolean Networks
Chapter 8
G. S. Nitschke, M. C. Schut, A. E. Eiben
Specialization is observable in many complex adaptive systems and is thought by many to be a fundamental mechanism for achieving optimal efficiency... Sample PDF
Emergent Specialization in Biologically Inspired Collective Behavior Systems
Chapter 9
Jean Lou Dessalles, Jacques Ferber, Denis Phan
This chapter provides a critical survey of emergence definitions both from a conceptual and formal standpoint. The notions of downward/backward... Sample PDF
Emergence in Agent-Based Computational Social Science: Conceptual, Formal, and Diagrammatic Analysis
Chapter 10
Hayward R. Alker
Responding to a provocative question by Hiroharu Seki about Hiroshima ontologies, this chapter reviews related thinking about the ontological... Sample PDF
Ontological Reflections on Peace and War
Chapter 11
Jason Potts, Kate Morrison, Joseph Clark
This chapter isolates a classic allocation problem in the substitution relation between two primary carriers of complex rules—agents and... Sample PDF
The Allocation of Complexity in Economic Systems
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