Routledge International Handbook of Complexity Economics

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Ping Chen (Peking University, China) Wolfram Elsner (University of Bremen, Germany)

Routledge International Handbook of Complexity Economics

Ping Chen (Peking University, China), Wolfram Elsner (University of Bremen, Germany), Andreas Pyka (Hohenheim University, Germany)

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English

Routledge
29 November 2024

Development studies; Macroeconomics; Microeconomics; Economics of industrial organisation; International economics

Series: Routledge International Handbooks

The Routledge International Handbook of Complexity Economics covers the historical developments and early concerns of complexity theorists and brings them into engagement with the world today.

In this volume, a distinguished group of international scholars explore the state of the art of complexity economics, and how it may deliver new and relevant insights to the challenges of the 21st century. Complexity science started in 1899 when Henri Poincaré described the three-body problem. The first approaches in economics emerged somewhat later, in the 1980s, driven by the Brussels-Austin school. Since then, complexity economics has gone through numerous developments: departing from linear simplifications, applying physical algorithms, to evolutionary economics and big data. This book covers the basic principles and methods, and offers an overview of the various domains—ranging from diverse fields of productivity studies, agricultural economics, to monetary economics—as well as the current challenges such as climate change, epidemics and economic inequality where complexity economics can provide insight. It closes with a review of complexity political economy and policy.

Offering a vibrant alternative to orthodox economics, this handbook is a crucial resource for advanced students, researchers and economists across the disciplines of heterodox economics, economic theory and econophysics.

Edited by: Ping Chen (Peking University China), Wolfram Elsner (University of Bremen, Germany), Andreas Pyka (Hohenheim University, Germany)
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 246mm, Width: 174mm,
ISBN: 9780367634216
ISBN 10: 036763421X
Series: Routledge International Handbooks
Pages: 740
Publication Date: 29 November 2024
Audience: College/higher education , Primary
Format: Hardback
Publisher's Status: Forthcoming

Ping Chen is Professor of Finance at the National School of Development, Peking University, Beijing, and a Research Fellow at the China Institute, Fudan University, Shanghai, China. Ping holds a PhD in Physics from the University of Texas at Austin, USA. Their research includes economic color chaos, birth–death process for financial markets, theory of metabolic growth and unified theory of complexity economics. Wolfram Elsner is Emeritus Professor of Economics at the University of Bremen, Germany, since 1995. He managed the Editor Forum for Social Economics from 2012 to 2018. Wolfram was President of the European Association for Evolutionary Political Economy (EAEPE) in 2012–2016 and Editor-in-Chief of the Review of Evolutionary Political Economy (REPE) since 2018. Andreas Pyka holds the chair for innovation economics at the University of Hohenheim. Currently, his research areas are knowledge-driven developments and transformation of economic systems with a particular emphasis on the knowledge-based bioeconomy and the transformation of economic systems towards sustainability.

Reviews for Routledge International Handbook of Complexity Economics

The complexity economics, based on physical algorithms and statistics to analyze economic mass data and time-series, provides an alternative paradigm to the overly-simplified mainstream rationality assumption-based Neoclassical approach for understanding macro growth, structural transformation, climate change, financial crises, trade wars and other real-world phenomena. This Handbook collects recent progresses and new insights by authors in this new discipline. I recommend the book to scholars who are interested in this new approach. Justin Yifu Lin Professor and Dean, Institute of New Structural Economics, Peking University, China Former Chief Economist, the World Bank The economic system is a supremely complex one. The traditional approach to understanding it has been to reduce complexities to simple rules and behaviors, abstracting many features of the real economy. However, thanks to the enormous increases in both the amount of data available and computing power, there is nowadays an alternative approach: the one proposed by complexity economics, a fast-growing field in economic analysis. The Handbook of Complexity Economics provides a thorough and updated vision of this very promising field and will surely encourage many scholars to deepen research in this area. Victor A. Beker Professor of Economics, University of Belgrano and University of Buenos Aires, Argentina Former Associate Editor of Journal of Behavior and Organization Timely and compact one-volume from a set of economists uniquely positioned to contribute about complexity. The result is an up-to-date, integrated, compelling, canonical guide-book on the contours and contents of an approach that is extremely remunerative for theory as well as actual practice in the 21st century economy. Older and younger generations now have a fresh meeting point from where to breathe new life into the most pressing intellectual and societal challenges of our age. Sandro Mendonça Iscte Business School, Portugal Former communications regulator