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We develop an analytical core for sociology. We follow standard dynamical systems theory by first specifying the conditions for social equilibrium, and then study the dynamical principles that govern disequilibrium behavior. Our general social equilibrium model is an expansion of the general...
Persistent link: https://www.econbiz.de/10014151185
Why do financial markets crash again and again? How can we construct resilient institutions? What determines human happiness and well-­‐being, and how are they influenced by personal wealth? How can society change behaviours that destroy our environment and other important public goods? Big...
Persistent link: https://www.econbiz.de/10014155567
The Internet and Social Media change our way of decision-making. We are no longer the independent decision makers we used to be. Instead, we have become networked minds, social decision-makers, more than ever before. This has several fundamental implications. First of all, our economic theories...
Persistent link: https://www.econbiz.de/10013075388
The world is changing at an ever-increasing pace. And it has changed in a much more fundamental way than one would think, primarily because it has become more connected and interdependent than in our entire history. Every new product, every new invention can be combined with those that existed...
Persistent link: https://www.econbiz.de/10013025799
A multidimensional financial system could provide benefits for individuals, companies, and states. Instead of top-down control, which is destined to eventually fail in a hyperconnected world, a bottom-up creation of value can unleash creative potential and drive innovations. Multiple currency...
Persistent link: https://www.econbiz.de/10012993527
Every activity in the world now leaves ever more digital traces. What if a "wise king" or "benevolent dictator" had real-time access to all the data in the world? Could he take perfect decisions to benefit society? Could he predict the future? Could he control the further development of the...
Persistent link: https://www.econbiz.de/10013046621
If we want Big Data to create societal progress, more transparency and participatory opportunities are needed to avoid discrimination and ensure that they are used in a scientifically sound, trustable, and socially beneficial way
Persistent link: https://www.econbiz.de/10013046777
In this paper we argue that if we want to find a more satisfactory approach to tackling the major socio-economic problems we are facing, we need to thoroughly rethink the basic assumptions of macroeconomics and financial theory. Making minor modifications to the standard models to remove...
Persistent link: https://www.econbiz.de/10013079249
Despite all our great advances in science, technology and financial innovations, many societies today are struggling with a financial, economic and public spending crisis, over-regulation, and mass unemployment, as well as lack of sustainability and innovation. Can we still rely on conventional...
Persistent link: https://www.econbiz.de/10014157822
Smartphones, tablets, and app stores with almost unlimited possibilities have become symbols of the digital revolution. However, while all this makes our lives more comfortable and interesting, these innovations pave the way for much more fundamental transformations. They concern the way we...
Persistent link: https://www.econbiz.de/10014139039