Economic Development and Network Science

Abstract

Many of the basic assumptions underlying macro-economic and financial theory are so simplistic that the models upon which they are built cannot be used to predict or explain economic events. The concept of homo economicus assumes that individuals make rational decisions based on complete knowledge motivated by their self-interest in an effort to achieve the greatest benefit at the least cost. Simplifications inherent in the representative agent approach assume away complexities associated with the interconnectedness of economic actors and the effects of their actions.

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Document Details

Document Type
Technical Report
Publication Date
Apr 01, 2011
Accession Number
ADA542801

Entities

People

  • Daniel Evans
  • Margaret Moten

Organizations

  • United States Military Academy

Tags

DTIC Thesaurus Topics

  • Commerce
  • Economic Analysis
  • Economic Development
  • Economic Models
  • Economic Policy
  • Economic Systems
  • Economics
  • Finance
  • Governments
  • Investments
  • Military Research
  • Money
  • Network Science
  • Social Networks
  • United States
  • United States Military Academy

Fields of Study

  • Economics

Readers

  • Computational Modeling and Simulation
  • Economics
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.