Abstract
Technology progress challenges equilibrium structures of human, social, cultural and behavioral systems. These are seen in ‘new normals’ of discontinuous market changes and nonlinear trend dynamics underpinning new individual behavior and human connectivity. Here we instantiate an agent based model integrated in a CAS framework of micro individual socio-economic transactions games empowered by technology and played on different economic network structures and market sophistication for anticipating macroeconomic and social equality outcomes. We explore scenario comparisons across GDP shocks and their impact on inequality, market behavior and recovery patterns. Several different V, U, L and W-shaped macro recovery patterns are categorized specifically dependent on such CAS structures. More sophisticated markets with preferential connectivity tend to offer lower levels of inequality and are more economically robust than less developed, randomly connected, transactional markets. High resolution computational approaches such as this can offer policymakers deeper insights and more actionable policy levers to achieve desired socio-economic outcomes in times of crisis.
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Abdollahian, M., Chang, Y.L., Lee, YY. (2021). A Complex Adaptive System Approach for Anticipating Technology Diffusion, Income Inequality and Economic Recovery. In: Gervasi, O., et al. Computational Science and Its Applications – ICCSA 2021. ICCSA 2021. Lecture Notes in Computer Science(), vol 12950. Springer, Cham. https://doi.org/10.1007/978-3-030-86960-1_18
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