Entangled Economy: an ecosystems approach to modeling systemic level dynamics
arXiv:1207.6091 · doi:10.1016/j.physa.2012.10.037
Abstract
We present a model of an economy inspired by individual based model approaches in evolutionary ecology. We demonstrate that evolutionary dynamics in a space of companies interconnected through a correlated interaction matrix produces time dependencies of the total size of the economy total number of companies, companies age and capital distribution that compares well with statistics for USA. We discuss the relevance of our modeling framework to policy making.
arXiv comment25 pages, 11 figures