Scrieciu, SŞ;
Zimmermann, N;
Chalabi, Z;
Davies, M;
(2021)
Linking complexity economics and systems thinking, with illustrative discussions of urban sustainability.
Cambridge Journal of Economics
, 45
(4)
pp. 695-722.
10.1093/cje/beab017.
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Abstract
The expanding research of complexity economics has been signalling its preference for a formal quantitative investigation of diverse interactions between heterogeneous agents at the lower, micro-level resulting in emergent, realistic socioeconomic dynamics at the higher, macro-level. However, there is scarcity in research that explicitly links complexity perspectives in economics with the systems thinking literature, despite these being highly compatible, with strong connections and common historical traces. We aim to address this gap by exploring commonalities and differences between the two bodies of knowledge, seen particularly through an economics lens. We argue for a hybrid approach, in that agent-based complexity perspectives in economics could more closely connect to two main systems thinking attributes: a macroscopic approach to analytically capturing the complex dynamics of systems, and an inter-subjective interpretivist dimension, when investigating complex social-economic order. Illustrative discussions of city sustainability are provided, with an emphasis on decarbonisation and residential energy demand aspects.
| Type: | Article |
|---|---|
| Title: | Linking complexity economics and systems thinking, with illustrative discussions of urban sustainability |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1093/cje/beab017 |
| Publisher version: | https://doi.org/10.1093/cje/beab017 |
| Language: | English |
| Additional information: | © The Author(s) 2021. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted reuse, distribution, and reproduction in any medium, provided the original work is properly cited. |
| Keywords: | Complexity economics, Systems thinking, Sustainability |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10131810 |
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