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Complexity Economics

Economies as complex evolving systems; learning and adaptive behavior; aggregate properties as emerging phenomena; agent-based models for studying growth fluctuations and climate change
Complexity Economics

The faculty members involved in this area study the economies as complex evolving systems resulting from the interaction of many heterogeneous agents who learn and adapt their behavior. In this context, the aggregate properties of the system are emergent phenomena. Agent-based models represent the main tool for the investigation and the fields of application encompass growth fluctuations and climate change.

Major Pubblications

  1. Aguiar, M., Dosi, G., Knopoff, D. A., Virgillito, M. E. (2021), “A multiscale network-based model of contagion dynamics: heterogeneity, spatial distancing and vaccination”, Mathematical Models and Methods in Applied Sciences,
  2. Dosi G., Napoletano M., Roventini A., Stiglitz J., and Treibich T. (2020), “Rational Heuristics? Expectations and Behaviors in Evolving Economies with Heterogeneous Interacting Agents”, Economic Inquiry, 58, pp. 1487-1516
  3. Fagiolo G., D. Giachini, and A. Roventini (2020), “Innovation, finance, and economic growth: an agent-based approach”. Journal of Economic Interaction and Coordination 15, 703- 736. Springer Nature, Switzerland. DOI:
  4. Bottazzi G., D. Giachini (2019) “Far from the madding crowd: collective wisdom in prediction markets2, Quantitative Finance, 19:9, 1461-1471, DOI: 10.1080/14697688.2019.1622285
  5. Lamperti, F., Bosetti V., Roventini, A. & Tavoni, M. (2019), “The public costs of climate-induced financial instability”, Nature Climate Change, 9, 829-833. DOI:
  6. Lamperti, F., Dosi, G., Napoletano, M., Roventini, A., & Sapio, A. (2018), “Faraway, so close: coupled climate and economic dynamics in an agent-based integrated assessment model”. Ecological Economics, 150, 315-339. DOI:
  7. Guerini M. and A. Moneta (2017), “A Method for Agent-Based Models Validation”, Journal of Economic Dynamics and Control, 82, 125-141
  8. Dosi G., G. Fagiolo, and A. Roventini (2010), “Schumpeter Meeting Keynes: A Policy-Friendly Model of Endogenous Growth and Business Cycles”, Journal of Economic Dynamics and Control, vol. 34, pp. 1748-1767.
  9. Schweitzer, F., Fagiolo, G., Sornette, D., Vega-Redondo, F., Vespignani, A., White, D.R. (2009), "Economic Networks: The New Challenges", Science, 24 July 2009, Vol. 325, No. 5939, pp. 422-425.
  10. G. Dosi; C. Freeman; R. Nelson; G. Silverberg, L. Soete (1988), Technical Change and Economic Theory.  Francis Pinter and Columbia University Press