In reality, complexity science provides a general mathematical basis not only for evolutionary economics, but also for evolutionary thinking as a whole. It offers an understanding of inherent, irreducible uncertainty and of limits to knowledge and prediction. Although these are usually...

To control and price negative externalities in passenger road transport, we develop an innovative and integrated computational agent based economics (ACE) model to simulate a market oriented "cap" and trade system. (i) First, there is a computational assessment of a digitized road network model...

Complexity science provides a general mathematical basis for evolutionary thinking. It makes us face the inherent, irreducible nature of uncertainty and the limits to knowledge and prediction. Complex, evolutionary systems work on the basis of on-going, continuous internal processes of...

Economic modelling that employs 'the complex systems' approach shows that factors such as communication and diversity are vital to systematic function and evolution. A 'complex systems' model of market evolution is presented and discussed to illustrate these issues.

Complexity research draws on complexity in various disciplines. This Handbook provides a comprehensive and current overview of applications of complexity theory in economics. The 15 chapters, written by leading figures in the field, cover such broad topic areas as conceptual issues,...