Regensburg 2004 – scientific programme

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AKSOE: Physik sozio-ökonomischer Systeme

AKSOE 8: Makro-ökonomische Modelle und Wirtschaftswachtum II

AKSOE 8.4: Talk

Wednesday, March 10, 2004, 17:30–18:00, H8

Complexity and Evolutionary Economics — •Carl Henning Reschke — Mainzer Str. 80, 50678 Koeln, affiliation: Universitaet Witten/Herdecke

The aim of this paper is to sketch a strategic map of some of the relevant issues at the intersection of economics, sociology and evolutionary theories. Methodologically a successful integration of these areas requires a transfer of complexity methods and development of further methods in the complexity area. The paper therefore poses challenges to complexity researchers as well as discusses how these areas intersect conceptually. I review approaches to complexity from physics, computer science and biology.

Each of these disciplines offers a specific way of dealing with complex phenomena, with distinctive advantages and disadvantages. Physics measures potentially relevant characteristics. Computer science aims at algorithmic accounts of how complex systems can be artificially constructed. Evolutionary thinking asks for the adaptive value of specific characteristics. It shifts attention from a generalized standard optimality criterion to a differentiated account of selection criteria and selection conditions in specific circumstances. Hypotheses and are illustrated with examples from the pharmaceuticals market.