5min chapter

COMPLEXITY cover image

Michael Garfield & David Krakauer on Evolution, Information, and Jurassic Park

COMPLEXITY

CHAPTER

How Market Ecology Explains Market Disfunction

Marketing strategies are like species and they have ecologies and that they may interact with each other like lions and zebras and grass in this case the food source ultimately are inefficiencies in the market. Who's present in the market is going to influence what those inefficiencies are and what the available niches are. We found several interesting things about our you know model ecology that we studied one is that when we reached the equilibrium where the returns of all the strategies were the same we actually saw that we had mutualistic interactions between all the strategies. If their own wealth goes up the returns would go down but if anybody else's wealth went up the returnswould go up.

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