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Bounded rationality and hierarchical complexity: Two paths from Simon to ecological and evolutionary economics.
- Source :
- Ecological Complexity; Dec2006, Vol. 3 Issue 4, p361-368, 8p
- Publication Year :
- 2006
-
Abstract
- Abstract: This paper examines two paths by which the work of Herbert Simon has influenced the development of ecological and evolutionary economics: bounded rationality and hierarchical complexity. It argues that there is scope for further consideration of the implications of these ideas, particularly their inter-relation. This is illustrated through some recent ideas on the co-evolution of technologies and institutions. This is related to understanding transitions of technological systems, and how these might be steered or modulated towards greater sustainability. [Copyright &y& Elsevier]
- Subjects :
- BOUNDED rationality
ECOLOGY
CHOICE (Psychology)
TECHNOLOGY
Subjects
Details
- Language :
- English
- ISSN :
- 1476945X
- Volume :
- 3
- Issue :
- 4
- Database :
- Supplemental Index
- Journal :
- Ecological Complexity
- Publication Type :
- Academic Journal
- Accession number :
- 24710465
- Full Text :
- https://doi.org/10.1016/j.ecocom.2007.02.010