Complexity Economics

    The Institute supports the exploration of Agent Based Modeling and Complexity Economics as approaches to understanding economic policy. These approaches simulate the behavior and interactions of economic agents to evaluate the effects on the economy as a whole.

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    New Theories to Underpin Financial Reform

    As Carmen Reinhart and Kenneth Rogoff remind us in the title of their book, This Time is Different: Eight Centuries of Financial Folly, financial crises are nothing new (Reinhart and Rogoff (2009)). However, they often come as a surprise to many people because in most countries they appear only periodically. Read more

    Efficiency and Equilibrium in Network Games: An Experiment

    The tension between efficiency and equilibrium is a central feature of economic systems. In many contexts, social networks mediate this trade-off: an individual’s network position determines equilibrium play, and social relations allow coordination on an efficient norm. Read more