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  1. Journal of Evolutionary Economics
  2. Journal of Evolutionary Economics : Volume 24
  3. Journal of Evolutionary Economics : Volume 24, Issue 1, January 2014
  4. An NK-like model for complexity
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Journal of Evolutionary Economics : Volume 27
Journal of Evolutionary Economics : Volume 26
Journal of Evolutionary Economics : Volume 25
Journal of Evolutionary Economics : Volume 24
Journal of Evolutionary Economics : Volume 24, Issue 5, November 2014
Journal of Evolutionary Economics : Volume 24, Issue 4, September 2014
Journal of Evolutionary Economics : Volume 24, Issue 3, July 2014
Journal of Evolutionary Economics : Volume 24, Issue 2, April 2014
Journal of Evolutionary Economics : Volume 24, Issue 1, January 2014
Four essays on economic evolution: an introduction
Capitalism and evolution
Darwinian paradigm, cultural evolution and human purposes: on F.A. Hayek’s evolutionary view of the market
How do entrepreneurs know what to do? learning and organizing in new ventures
The evolution of morality and the end of economic man
An NK-like model for complexity
Do incentive systems spur work motivation of inventors in high tech firms? A group-based perspective
Persistence vs. mobility in industrial and technological specialisations: evidence from 11 Euro area countries
Pluralism(s) in economics: lessons from complexity and innovation. A review paper
Journal of Evolutionary Economics : Volume 23
Journal of Evolutionary Economics : Volume 22
Journal of Evolutionary Economics : Volume 21
Journal of Evolutionary Economics : Volume 20
Journal of Evolutionary Economics : Volume 19
Journal of Evolutionary Economics : Volume 18
Journal of Evolutionary Economics : Volume 17
Journal of Evolutionary Economics : Volume 16
Journal of Evolutionary Economics : Volume 15
Journal of Evolutionary Economics : Volume 14
Journal of Evolutionary Economics : Volume 13
Journal of Evolutionary Economics : Volume 12
Journal of Evolutionary Economics : Volume 11
Journal of Evolutionary Economics : Volume 10
Journal of Evolutionary Economics : Volume 9
Journal of Evolutionary Economics : Volume 8
Journal of Evolutionary Economics : Volume 7

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An NK-like model for complexity

Content Provider SpringerLink
Author Valente, Marco
Copyright Year 2013
Abstract The level and nature of complexity is widely regarded as an important determinant of a number of economic, technological and organizational phenomena. A popular modeling tool for the representation of complexity in economics and organizational sciences is the NK model that represents the complexity stemming from the interactions among the elements of a system. This paper proposes an enhanced model for complexity that, though maintaining the core design (and properties) of the NK model, provides a more intuitive and richer representation of complexity, extending its applications and deepening the understanding of its effects on economic systems. The proposed pseudo-NK (pNK) model is defined on real-valued variables, as opposed to the binary variables required by NK, so as to allow for richer and more intuitive definitions of distance and search strategies. It also admits as a source of complexity not only the number of interactions, as in NK, but also their intensity, opening a novel way to express and measure the level of complexity. Finally, instead of relying on statistical properties of a large dataset of random values, pNK is defined as a deterministic function, far simpler to implement, to interpret and to calibrate for specific requirements. The paper replicates known results and presents original ones; in both cases, the proposed model proves a powerful tool for the investigation of the role of complexity, particularly in agent-based models.
Starting Page 107
Ending Page 134
Page Count 28
File Format PDF
ISSN 09369937
Journal Journal of Evolutionary Economics
Volume Number 24
Issue Number 1
e-ISSN 14321386
Language English
Publisher Springer Berlin Heidelberg
Publisher Date 2013-10-26
Publisher Place Berlin, Heidelberg
Access Restriction One Nation One Subscription (ONOS)
Subject Keyword NK model Complexity Simulation models Economic Theory Microeconomics Economic Growth R & D/Technology Policy Entrepreneurship
Content Type Text
Resource Type Article
Subject Economics and Econometrics Business, Management and Accounting
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