Complexity
Complexity research focuses on the analysis and empirical validation of models based on “bounded” rationality of agents. The behavior of these agents is in accordance with experimental and empirical evidence rather than standard assumptions on rationality. The central question is which aggregate behavior results from interactions of individual decisions of boundedly rational agents? Research topics are: complex systems & nonlinear dynamics; bounded rationality, learning & heterogeneous expectations; behavioral & experimental macro-finance; networks; dynamic games; strategic interaction and (non-)cooperative games.
Complexity
Complexity research focuses on the analysis and empirical validation of models based on “bounded” rationality of agents. The behavior of these agents is in accordance with experimental and empirical evidence rather than standard assumptions on rationality. The central question is which aggregate behavior results from interactions of individual decisions of boundedly rational agents? Research topics are: complex systems & nonlinear dynamics; bounded rationality, learning & heterogeneous expectations; behavioral & experimental macro-finance; networks; dynamic games; strategic interaction and (non-)cooperative games.
Researchers in this field
Fellows and Faculty
Fellows and Faculty
PhD Students
PhD Students
Key Publications
Li, W., Xu, G. and van den Brink, R. (2024). Sign properties and axiomatizations of the weighted division values Journal of Mathematical Economics, 112:1--7.
Arifovic, J., Hommes, C., Kopányi-Peuker, A. and Salle, I. (2023). Ten Isn’t Large! Group Size and Coordination in a Large-Scale Experiment American Economic Journal: Microeconomics, 15(1):580--617.
Salle, I. (2022). Comment on “No firm is an island? How industry conditions shape firms’ expectations” by Philippe Andrade, Olivier Coibion, Erwan Gautier and Yuriy Gorodnichenko Journal of Monetary Economics, 125:.
Evans, G., Hommes, C., McGough, B. and Salle, I. (2022). Are long-horizon expectations (de-)stabilizing? Theory and experiments Journal of Monetary Economics, 132:44--63.
Houba, H., Li, D. and Wen, Q. (2022). Bargaining with costly competition for the right to propose Journal of Mathematical Economics, 98:1--9.
Discussion Papers
25-061/II - Monotone optimal trajectories
Date: October 13, 2025
25-050/II - The Consistency Principle in the Reordering Problem
Date: September 19, 2025
25-047/II - Reconciling marginalism with the core in two-sided markets with money
Date: August 22, 2025
25-038/II - Efficient Information Aggregation: Optimal Structure of Signal Network
Date: May 30, 2025
25-017/II - Construction of Compromise Values for Cooperative Games
Date: March 14, 2025
Upcoming events
Workshop
| 09:00 - 18:00
De Nederlandse Economendag (NED)
Keynote: Stefanie Stantcheva (Harvard University, United States)
Seminar
| Amsterdam | 12:00 - 13:00
Title to be announced
Frank Westerhoff (University of Bamberg, Germany)
- TI Complexity in Economics Seminars
Seminar
| Amsterdam | 12:00 - 13:00
0DTE Asset Pricing
Gustavo Freire
- TI Complexity in Economics Seminars
Seminar
| Amsterdam | 12:00 - 13:00
A Weaker Condition for Higher-Order Differentiability of Policy...
Juan Pablo Rincon Zapatero (Carlos III University of Madrid, Spain)
- TI Complexity in Economics Seminars
Seminar
| Amsterdam | 16:00 - 17:15
Title to be announced
Mikel Alvarez-Mozos (University of Barcelona, Spain)
- TI Complexity in Economics Seminars
Academic Distinctions
July 25, 2022
Florian Wagener elected President of the International Society...
Florian Wagener
June 17, 2021
Cars Hommes co-author of prize winning paper
Cars Hommes
January 19, 2019
EU Horizon 2020 funding for Cars Hommes, Cees Diks and Jan Tuinstra...
Cees Diks,Cars Hommes,Jan Tuinstra