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The Microeconomics of Complex Economies


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This intermediate-level microeconomics textbook introduces the methods and practical applications of complexity in economics.

Table of Contents

Part I: Basics of the Interdependent Economy and Its Processes 1. Introduction to the Microeconomics of Complex Economies 2. Tools I: An Introduction to Game Theory 3. Problem Structures and Processes in Complex Economies 4. Approaching Real-World Interdependence and Complexity: Empirical Phenomena in the Global Economy Part II: Markets: General-Equilibrium Theory and Real-World Market Structures 5. The Ideal Neoclassical Market and General Equilibrium 6. Critiques of the Neoclassical "Perfect Market" Economy and Alternative Price Theories 7. Real-World Markets: Hierarchy, Size, Power, and Oligopoly, Direct Interdependence and Instability Part III: Further Tools and the Analysis of Complex Economies 8. Tools II: More Formal Concepts of Game Theory and Evolutionary Game Theory 9. Tools III: An Introduction to Simulation and Agent-Based Modeling 10. A Universe of Economies: Interdependence and Complexity, System Trajectories, Chaos, and Self-Organization 11. Dynamics, Complexity, Evolution, and Emergence-The Roles of Game Theory and Simulation Methods Part IV: History of Thought and Contemporary Models in Complexity Economics 12. Themes of Complexity in the History of Economic Thought: Glimpses at A. Smith, T.B. Veblen, J.A. Schumpeter, and Others 13. Recent Core Models of Complexity Microeconomics 14. The Size Dimension of Complex Economies-Towards a Meso-Economics: The Size of Interaction Arenas and the Emergence of Meso-Platforms of Institutional Coordination Part V: Further Applications: Information, Innovation, Policy, and Methodology 15. The Information Economy and the Open-Source Principle 16. Networks and Innovation-The Networked Firm, Innovation Systems, and Varieties of Capitalism 17. Policy Implications: New Policy Perspectives for Private Agents, Networks, Network Consultants, and Public Policy Agencies 18. How to Deal with Knowledge of Complexity Microeconomics: Theories, Empirics, Applications, and Actions

About the Author

Wolfram Elsner regularly speaks on complexity economics at universities worldwide has served as a visiting professor at the New School for Social Research and Curtin University.


"Elsner, Schwerdt and Heinrich define the very starting point of microeconomics as the investigation of agents' coordination and conflict under conditions of interdependence and uncertainty. As such, the book provides a long overdue and immensely rich complement to the standard curriculum." --Rudiger von Arnim, University of Utah

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