SFI researchers are building improved models capable of capturing the financial behavior of millions of households, companies, and governments playing roles in an economy.
In a feature on the status and future potential of agent-based modeling, PNAS science writer Robert Frederick cites SFI and the past and current work of SFI External Professor Doyne Farmer and longtime collaborator Rob Axtell toward improved theory and models for understanding markets and economies.
"Formal efforts to understand [economic] complexity are quite recent. Using an expanding set of mathematical tools loosely termed 'complexity theory,' the study of these complex systems originated at the Santa Fe Institute," Frederick writes.
Read the article in PNAS (March 6, 2013)