A Systematic Literature Review of the Impact of Complexity Theory on Applied Economics

A systematic literature review is used to explore the relationship between complexity theory and economics. Broad search terms identify an unmanageable large number of hits. more focused strategy follows PRISMA protocol screens for Economics branded publications, with key words different applications economics occurring in abstract. This results a distinct group 247 publications. One hundred twenty-two publications are excluded due inclusion criteria or lack relevance. The remaining 113 analysed (1) use concepts, (2) types methodology methods, (3) macro, meso, micro issues. publication greatest frequency resulting articles Complexity, closely followed by Ecological Economics. highest annual citation ratio single article was 33.88. Complexity concepts included: non-linearity, system interactions, adaption, resilience. Many developed meso application, rather than solely focusing on macro designs. Agent Based Models (ABMs) were popular, as general systems models following practice late theorist, Donella Meadows. Applications interdisciplinary diverse, including world that linked macroeconomics climate sustainability, contrast trying explain agent-based behaviour specific organisations higher-level processes.