complex adaptive systems we must add one more: stock markets. Every complex adaptive system is actually a network of many individual agents all acting in parallel and interacting with one another. The critical variable that makes a system both complex and adaptive is the idea that agents (neurons, ants, or investors) in the system accumulate experience by interacting with other agents and then change themselves to adapt to a changing environment. No thoughtful person, looking at the present stock market, can fail to conclude that it shows all the traits of a complex adaptive system. And this
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