Objective
We consider the fundamental theoretical problem of economic coordination in a decentralized economy. As the recent empirical evidence pertaining to Eastern Europe suggests, decentralised trade entails deep questions that economic theory does not yet offer an answer to. The central problems with which economic theory is concerned remained the same since Smith (1776): How, why, and when does the 'invisible hand' work? As a decentralised economy consists of a large number of locally interconnected and interacting rational agents, who are all continuously pursuing advantageous opportunities, these questions may very well be studied in the framework of the theory of complexity. The complexity approach takes as given simple microeconomic properties, and tries to understand how the macroeconomic dynamics (both short-term and long-term) of a decentralized economy can be the aggregate result of the process of interactions between many of such individual agents.
Fields of science (EuroSciVoc)
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Data not available
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
08005 BARCELONA
Spain
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.