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The Microeconomics of Complex Economies

Evolutionary, Institutional, Neoclassical, and Complexity Perspectives

  • 1st Edition - April 15, 2014
  • Authors: Wolfram Elsner, Torsten Heinrich, Henning Schwardt
  • Language: English
  • Hardback ISBN:
    9 7 8 - 0 - 1 2 - 4 1 1 5 8 5 - 9
  • eBook ISBN:
    9 7 8 - 0 - 1 2 - 4 1 1 5 9 9 - 6

The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern ec… Read more

The Microeconomics of Complex Economies

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The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset.

Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories.