New Perspectives on Institutionalist Pattern Modeling: Systemism, Complexity, and Agent-Based Modeling

Gräbner, Claudius and Kapeller, Jakop (2015): New Perspectives on Institutionalist Pattern Modeling: Systemism, Complexity, and Agent-Based Modeling. Published in: Journal of Economic Issues , Vol. 49, No. 2 (19 June 2015): pp. 433-440.

Abstract

This paper focuses on the complementarity between original institutional economics, Mario Bunge’s framework of systemism, and the formal tools developed by complexity economists, especially in the context of agent-based modeling. Thereby, we assert that original institutional economics might profit from exploiting this complementarity.

• Item Type: MPRA Paper
• Language: English
• Keywords: Aggregation, Original Institutionalism, Systemism, Agent-Based Computational Economics, Complexity
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; Evolutionary; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C63 - Computational Techniques ; Simulation Modeling

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