Groningen sociologist Andreas Flache co-author of Science Policy Forum article about Social Complexity modelling of financial crises

Complexity theory is needed for a better understanding and management of financial-economic crises, according to an article published in Science. The article, which is authored by an interdisciplinary group of scientists from the fields of economics and banking, ecology, epidemiology, physics, computer science and sociology argues that applications of complex networks, agent-based models and laboratory experiments offer great potential to better grasp complex financial economic systems.

One of the co-authors is prof. dr. A. (Andreas) Flache of the department of Sociology, University of Groningen. The other authors are from the University of Amsterdam, Wageningen University, Utrecht University, Leiden University and the international institutions Oxford University, ETH Zurich, Santa Fe Institute, Bank of England and the Global Climate Forum.

Publication details

S.Battiston, J.D.Farmer, A.Flache, D.Garlaschelli, A.Haldane, H.Heesterbeek, C.Hommes, C.Jaeger, R.May, M.Scheffer: ‘Complexity Theory and Financial Regulation. Economic Policy Needs Interdisciplinary Network Analysis and Behavioral Modeling’ in Science (19 February 2016).