【Q】Instability, Complexity, and Bounded Rationality in Economic Change (1997)
Instability, Complexity, and Bounded Rationality in Economic Change
Ilya Prigogine, Ping Chen, and Kehong Wen
In Cooper, W.W., S.Thore, D.Gibson, and E.Phillips Eds. Impact: How IC2 Institute
Research Affects Public Policy and Business Practices, Quorum Books, Chapter 11,
pp.209-218, CT: Westport (1997).
Abstract：Economic order and structural change can be better understood from the perspective of self-organization under non-equilibrium constraints. The constructive role of instability, prevalence of complexity, and source of bounded rationality are demonstrated by examples of traffic flow, complex business cycles, economic crisis, division of labor, and economic development. The socioeconomic order can only be maintained by self-organization processes.
