New Books In Economics

In this interview, two of the three authors (Wolfram Elsner and Torsten Heinrich) of The Microeconomics of Complex Economies: Evolutionary, Institutional, Neoclassical, and Complexity Perspectives (Elsevier, 2014) discuss their new book of Microeconomics and position it in the heterodox-orthodox debate. This formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. This interview, as the final chapter on policy perspectives and decisions, explains the value of the toolset as the highly interdependent economy of the 21st century demands a reconsideration of economic theories. The book has been