Application of Synergetics in Business Cycle Theory

Abstract

This chapter provides an example for a possible application of synergetics in the field of economic business cycle theory. The model illustrates some qualities of synergetics, like microfoundation, interdependence of micro- and macrolevel and complex dynamics. It is a main issue of the example to show that synergetics is a potential alternative approach for the realization of the general decision model of the first chapter. Therefore the model is compared with the temporary equilibrium approach and the ideas of evolutionary economics to see where the qualities and results are compatible.