Complexity, models and optimizing or satisficing behavior
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Abstract
The article moves from the complexity concept in economics, to analyze the effects of the presence of different kinds of agents, with their behavior. Following the Simon heritage, we pay attention to satisficing choices vs. optimizing ones. Finally, we consider the agent-based simulation framework as a socioeconomic artifact, useful to explore factual or counterfactual worlds and their agents.
Keywords
- Complexity
- Optimization
- Satisficing Behavior
- Agent-Based Model
