Routledge International Handbook of Complexity Economics

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.

The Complexity of Complexity Economics, Its History and Interdisciplinarity and Its Diverse Perspectives and Future: Introduction

Ping Chen, Wolfram Elsner and Andreas Pyka

PART I Basics and Methods in Complexity Economics

I.1 Basics

1 Stairway to Complexity

Mauro Gallegati and Alan Kirman

2 Aspects of Discrete and Continuous Complexity Theories

K. Vela Velupillai

3 Knowledge Is Non‑fungible

César A. Hidalgo

4 What Are Reflexive Economic Agents? Position‑adjustment, SLAM, and Self‑Organization

John B. Davis

5 Complexity, Coevolution, and the Economy

Pier Paolo Saviotti

6 Complexity Economics: History, Issues, and Methods

Ping Chen

I.2 Methods

7 Some Thoughts on Agent‑Based Modeling and the Role of Computation in Economics

W. Brian Arthur

8 Economic Complexity in the Real World

James K. Galbraith

9 Complexity Science in the Application of Big Data Economics

Linyuan Lü, Shuqi Xu and Xu Na

10 Agent‑Based Modelling and Machine Learning: A New Paradigm for Complexity Economics and Sustainability Transitions?

Kristina Bogner, Matthias Müller, Johannes Dahlke, Bernd Ebersberger and Thomas Berger

11 The Resilience of a Complex Network: Methods and Applications

Roy Cerqueti, Matteo Cinelli, Giovanna Ferraro and Antonio Iovanella

12 Exploration of the Parameter Space in Macroeconomic Models

Karl Naumann‑Woleske, Max Sina Knicker, Michael Benzaquen and Jean‑Philippe Bouchaud

13 Stock‑Flow‑Consistent Macroeconomic Dynamics in Continuous Time

Gaël Giraud and Paul Valcke

PART II Domains and Major Challenges

II.1 Domains

14.1 Monetary Economics from Econophysics Perspective

Victor M. Yakovenko

14.2 Statistical Physics Perspective on Economic Inequality

Victor M. Yakovenko

15 Price Theory in a Complex and Evolving Economy

Harry Bloch and Stan Metcalfe

16 Complexity and Productivity: The Task Approach

Roger A. McCain

17 From Economic Chaos to Viable Markets: The Biophysics Foundation of Smith’s Theory on the Division of Labor and Schumpeter’s Wave Theory of Business Cycles

Ping Chen

18 The Evolution of Innovation

Petra Ahrweiler

19 Agriculture as a Social‑Ecological System

Thomas Berger

20 Network Complexity and Financial Behavior: Volume Distribution over Price in Financial Market

Bing‑Hong Wang and Leilei Shi

21 Trading Psychology and Market Resilience: From Brownian Motion to Birth–Death Process in Financial Dynamics

Y.N. Tang

22 Complex World Money: A Different Sign System of Global Social Value Waits at the Doors

Hardy Hanappi

23 The European Union as a Complex System in Times of Crisis

Éva Kuruczleki, Anita Pelle and Marcell Zoltán Végh

II.2 New Challenges

24 Socio‑Economic Implications of the Digital Revolution

Dirk Helbing and Carina I. Hausladen

25 Agent‑Based Macroeconomics of Climate and Digital Transformations

Marcello Nieddu, Marco Raberto and Silvano Cincotti

26 Economic Impacts of Natural Hazards and Complexity Science: A Critical Review

Matteo Coronese and Davide Luzzati

27 Climate Change from the Perspective of Complexity Economics

Michael W.M. Roos

28 Epidemics in Modern Economies

Torsten Heinrich

29 A Biophysical Approach to Production Theory

Jing Chen and James K. Galbraith

30 Digital Foundations of Evolvable Genomic Intelligence and Human Proteanism: Complexity with Novelty Production beyond Bounded Rationality

Sheri M. Markose

31 Economic Complexity and Inequality at the National and Regional Levels

Dominik Hartmann and Flávio L. Pinheiro

PART III Political Economy and Complexity Policy

III.1 Complexity Political Economy

32 An Agenda for Complex Systems Research in Political Economy

Hilton L. Root

33 Planetary‑Scale Computation, Political Economic Complexity and Hegemony

Manuel Scholz‑Wackerle

34 Potential for Mutual Enrichment? Confronting Marxian Economics and Complexity Economics

Frank Beckenbach

III.2 Complexity Policy

35 Using Data‑Driven Systems Mapping to Contextualise Complexity Economics Insights

Fernanda Senra de Moura and Pete Barbrook‑Johnson

36 The Knowledge Complexity of the European Metropolitan Areas: Selecting and Clustering Their Hidden Features

Carlo Bottai and Martina Iori

37 A Complexity View on the Future of Work: Meta‑modelling Exploration of the Multi‑sector K+S Agent‑Based Model

Giovanni Dosi, Marcelo C. Pereira, Andrea Roventini and Maria Enrica Virgillito