7.2 /10 1 Votes7.2
Country United Kingdom Publication date 1998 ISBN 0-571-19005-7 Originally published 1998 Page count 217 Publisher Faber and Faber | 3.6/5 Goodreads Language English Pages 217 OCLC 40624765 Genre Non-fiction | |||||||||||||||||||||||||||||||||
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Similar Works by Paul Ormerod, Economics books | ||||||||||||||||||||||||||||||||||
Butterfly economics a radically different way to make economic policy
Butterfly Economics: A New General Theory of Social and Economic Behavior is a book by Paul Ormerod dealing with economic theory, published in 1999. The author uses a plethora of insect-related metaphors to show that an economy tends to function like a living organism and is thus able to learn and to adapt.
Contents
The theory presented by the book departs from conventional economic wisdom which understands individuals as isolated decision makers who act based on a rational evaluation of sufficient information about cost and benefits of respective choices. Butterfly economics adds interaction to the equation and argues that individuals interact when pursuing their interests, thereby gaining new information, which in turn influences their decision-making.
A web program that models ant behavior: Ant Economics Demo (requires Silverlight plugin)