Dennis Venter
completed a Bachelor of Economics from the University of Pretoria in South Africa and currently lives in Australia. An active member of Rethinking Economics Australia and founder of the Initiative for Expanding the Dynamic Approach to Economics (IEDAE). He is part of the Exploring Economics working groups on complexity economics and history of economic thought. Further research interests include evolutionary economics, ecological rationality, philosophy of economics, and the dynamic approach to economics. Dennis looks at economics through a plurality of lenses, but to him, pluralism is not a destination, it is a path to dynamic first principles.
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Jason Collins explains how his “evolutionary approach” to decision-making relates to other approaches of behaviour. This piece therefore not only serves as a good introduction to this “evolutionary approach” but also serves as a great introduction to these other approaches of behaviour namely neoclassical perfect rationality which involves mainly probability …
The Atlas of Economic Complexity is an award-winning data visualization tool that allows people to explore global trade flows across markets, track these dynamics over time and discover new growth opportunities for every country.
Complexity economics and institutional economics are complementary approaches to studying the economy. They can pool their methods and foundational theories to explain the mechanisms that underlie economies.
In this interview, Gerd Gigerenzer place bounded rationality into the context of a larger development in thinking about what rationality is. He touches on unbounded rationality which remains overrepresented and popular in neoclassical economics, he explains different interpretations of bounded rationality and concludes with an ecological interpretation of rationality. He …
More-is-better ideals such as these have long shaped our vision of rationality. Yet humans and other animals typically rely on simple heuristics to solve adaptive problems, focusing on one or a few important cues and ignoring the rest, and shortcutting computation rather than striving for as much as possible.