Making Sense of Chaos with Doyne Farmer
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Traditional economic theory tends to function adequately under fairly simple scenarios. However, as complexity in a system increases, the efficacy of conventional models deteriorates. In a recent Boston Consulting Group-Henderson Institute podcast, moderator Martin Reeves interviews Doyne Farmer, a leader in complex systems who brings a new perspective to economics. According to Farmer, Complex Systems Thinking — and in particular Agent-Based Modeling — provide far more accurate forecasting and analytics. Economists, business owners, and investors interested in a rigorous examination of emerging economic reasoning will find this a robust analysis.
Summary
About the Podcast
Doyne Farmer is a complex systems scientist at the University of Oxford and the Santa Fe Institute. Martin Reeves is chair of the BCG Henderson Institute.
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