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The modeling of complex systems such as ecological or socio-economic systems can be very challenging. Although various modeling approaches exist, they are generally not compatible and mutually consistent, and empirical data often do not…
Economies are complex man-made systems where organisms and markets interact according to motivations and principles not entirely understood yet. The increasing dissatisfaction with the postulates of traditional economics i.e. perfectly…
In the past 15 years, two international observatories have been intensively studying entrepreneurship using empirical studies with different methodologies: GEM and PSED. Both projects have generated a considerable volume of scientific…
Understanding cities is central to addressing major global challenges from climate and health to economic resilience. Although increasingly perceived as fundamental socio-economic units, the detailed fabric of urban economic activities is…
This study aims to reveal different varieties of capitalism and to uncover new patterns of development that emerged between 2010 and 2020. A hybrid model is applied that quantifies three pillars of development (Future - F, Outside - O,…
The commentators have brought a wealth of new perspectives to the question of how culture evolves. Each of their diverse disciplines--ranging from psychology to biology to anthropology to economics to engineering--has a valuable…
An outstanding open problem is whether collective social phenomena occurring over short timescales can systematically reduce cultural heterogeneity in the long run, and whether offline and online human interactions contribute differently to…
In this essay, I attempt to provide supporting evidence as well as some balance for the thesis on `Transforming socio-economics with a new epistemology' presented by Hollingworth and Mueller (2008). First, I review a personal highlight of…
We propose a combinatorial model of economic development. An economy develops by acquiring new capabilities allowing for the production of an ever greater variety of products of increasingly complex products. Taking into account that…
The current article traces back the scientific interest to cultural levels across the organization at the University of National and World Economy, and especially in the series of Economic Alternatives - an official scientific magazine,…
Using institutional economic theory as our guiding framework, we develop a model to describe how populist discourse by a nation's political leader influences entrepreneurship. We hypothesize that populist discourse reduces entrepreneurship…
Classic economic science is reaching the limits of its explanatory powers. Complexity science uses an increasingly larger set of different methods to analyze physical, biological, cultural, social, and economic factors, providing a broader…
In this chapter the complex systems are discussed in the context of economic and business policy and decision making. It will be showed and motivated that social systems are typically chaotic, non-linear and/or non-equilibrium and therefore…
For Adam Smith, wealth was related to the division of labor. As people and firms specialize in different activities, economic efficiency increases, suggesting that development is associated with an increase in the number of individual…
According to the theory of urban scaling, urban indicators scale with city size in a predictable fashion. In particular, indicators of social and economic productivity are expected to have a superlinear relation. This behavior was verified…
In this paper we offer a way to measure the knowledge base of an economy in terms of probabilistic entropy. This measure, we hypothesize, is an indication of the extent to which a system, including the economic system, self-organizes. In a…
The process of European integration resulted in a marked increase in transnational economic flows, yet regional inequalities along many developmental indicators remain. We analyze the unevenness of European economies with respect to the…
Economic complexity reflects the amount of knowledge that is embedded in the productive structure of an economy. It resides on the premise of hidden capabilities - fundamental endowments underlying the productive structure. In general,…
Macroeconomics essentially discusses macroeconomic phenomena from the perspectives of various schools of economic thought, each of which takes different views on how macroeconomic agents make decisions and how the corresponding markets…
We review economic research regarding the decision making processes of individuals in economics, with a particular focus on papers which tried analyzing factors that affect decision making with the evolution of the history of economic…