Article: Tombstone mentality - Wikipedia, the free encyclopedia 20110111 14:47:23

From Wiki21info
Jump to: navigation, search

Complex systems - Wikipedia, the free encyclopedia

One of Hayek’s main contributions to early complexity theory is his distinction between the human capacity to predict the behaviour of simple systems and its capacity to predict the behaviour of complex systems through modeling. He believed that economics and the sciences of complex phenomena in general, which in his view included biology, psychology, and so on, could not be modeled after the sciences that deal with essentially simple phenomena like physics.[9] Hayek would notably explain that complex phenomena, through modeling, can only allow pattern predictions, compared with the precise predictions that can be made out of non-complex phenomena.[10]

(via Instapaper)

Sent from my iPhone