Abstract
We try to construct an evolutionary theory of economic and social interaction of heterogeneous agents. Modern physics is helpful for such an attempt, as the recent flourishing of econophysics exemplifies. In this article, we are interested in a specific or more fundamental use of physics rather than in the recent researches of econo-physics. In the first part of this article, we mainly focus on the traditional von Neumann-Sraffa model of production as complex adaptive system and examine the measure of complexity on this model in view of thermodynamical ideas. We then suggest the idea of hierarchical inclusion on this model to define complexity of production. In the latter part, we try to construct an elementary theory of social interaction of heterogeneous agents in view of statistical mechanics.
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Aruka, Y., Mimkes, J. An Evolutionary Theory of Economic Interaction—Introduction to Socio- and Econo-Physics. Evolut Inst Econ Rev 2, 145–160 (2006). https://doi.org/10.14441/eier.2.145
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DOI: https://doi.org/10.14441/eier.2.145
Keywords
- heterogeneous interaction
- complex adaptive system
- thermodynamics
- complexity of production
- truncation of a production system
- hierarchical inclusion
- social temperature