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Conventional economics asks how agents’ behaviors (actions, strategies, forecasts) would be upheld by—would be consistent with—the aggregate patterns these cause. It asks, in other words, what patterns would call for no changes in microbehavior, and would therefore be in stasis or equilibrium.
Jessica C. Flack • Worlds Hidden in Plain Sight: The Evolving Idea of Complexity at the Santa Fe Institute, 1984–2019 (Compass)
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