On the evolution of open socio-economic systems

Friedrich Hinterberger

pp. 35-50

in: Ramesh Mishra Kumar, D. Maas, Eduard Zwierlein (eds), On self-organization, Berlin, Springer, 1994

Abstract

Some applications of evolutionary and self-organization models to economic problems are outlined along with their major limitaitions, which require a broad concept of social science modelling. Among the concepts discussed are neural nets, systems dynamics, synergetics and Darwinian evolution.The purpose of this paper is to explore the range of possible uses of the self-organization approach for social science applications, and especially for economics. After some general remarks (1), I will present two special cases. Neural nets could improve our understanding of individual economic decisions (2), while an analogy to biological evolution can help to explore certain aspects of economic processes on a societal level (3).