What are “complex systems” in this context? These are noncomputer systems, such as a company’s supply chain. A system is “complex” when it has so many variables and interacting forces that it can’t be ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

In Chapter 2, the committee identified three overarching themes that must be reflected in DoD’s future development of MS&A: networking, adaptability, and embedded systems. These themes lead the ...

Finance theory continues to develop beyond the traditional academic precincts of rational expectations and efficient markets, with the latest innovations coming from psychology, neuroscience and ...

Uri Wilensky of Northwestern University’s Center for Connected Learning and Computer-Based Modeling Department observed the world has a variety of natural or emergent phenomena consisting of patterns, ...

A thorough analysis of risks in the banking system requires incorporating banks’ inherent heterogeneity and adaptive behavior in response to shocks and changes in business conditions and the ...