Editing Complex system (section)

== History ==
In 1948, Dr. Warren Weaver published an essay on "Science and Complexity",<ref>{{cite journal |last1=Warren |first1=Weaver |title=Science and Complexity |journal=American Scientist |date=Oct 1948 |volume=36 |issue=4 |pages=536–544 |jstor=27826254 |pmid=18882675 |url=https://www.jstor.org/stable/27826254 |access-date=28 October 2023}}</ref> exploring the diversity of problem types by contrasting problems of simplicity, disorganized complexity, and organized complexity. Weaver described these as "problems which involve dealing simultaneously with a sizable number of factors which are interrelated into an organic whole."

While the explicit study of complex systems dates at least to the 1970s,<ref>{{Cite book |last=Vemuri |first=V. |title=Modeling of Complex Systems: An Introduction |date=1978 |publisher=Academic Press |isbn=978-0127165509 |location=New York}}</ref> the first research institute focused on complex systems, the [[Santa Fe Institute]], was founded in 1984.<ref>{{Cite journal |last=Ledford |first=H |year=2015 |title=How to solve the world's biggest problems |journal=Nature |volume=525 |issue=7569 |pages=308–311 |bibcode=2015Natur.525..308L |doi=10.1038/525308a |pmid=26381968 |doi-access=free}}</ref><ref>{{Cite web |title=History |publisher=Santa Fe Institute |url=https://www.santafe.edu/about/history |url-status=dead |archive-url=https://web.archive.org/web/20190403154434/https://www.santafe.edu/about/history |archive-date=2019-04-03 |access-date=2018-05-17 |language=en}}</ref> Early Santa Fe Institute participants included physics Nobel laureates [[Murray Gell-Mann]] and [[Philip Warren Anderson|Philip Anderson]], economics Nobel laureate [[Kenneth Arrow]], and Manhattan Project scientists [[George Cowan]] and [[Herbert L. Anderson|Herb Anderson]].<ref>Waldrop, M. M. (1993). [https://archive.org/details/complexity00mmit Complexity: The emerging science at the edge of order and chaos.] Simon and Schuster.</ref> Today, there are over 50 institutes and research centers focusing on complex systems.{{citation needed|date=April 2019}}

Since the late 1990s, the interest of mathematical physicists in researching economic phenomena has been on the rise. The proliferation of cross-disciplinary research with the application of solutions originated from the physics epistemology has entailed a gradual paradigm shift in the theoretical articulations and methodological approaches in economics, primarily in financial economics. The development has resulted in the emergence of a new branch of discipline, namely "econophysics", which is broadly defined as a cross-discipline that applies statistical physics methodologies which are mostly based on the complex systems theory and the chaos theory for economics analysis.<ref>{{Cite journal |last1=Ho |first1=Y. J. |last2=Ruiz Estrada |first2=M. A |last3=Yap |first3=S. F. |date=2016 |title=The evolution of complex systems theory and the advancement of econophysics methods in the study of stock market crashes |url=https://jurcon.ums.edu.my/ojums/index.php/lbibf/article/view/1320 |journal=Labuan Bulletin of International Business & Finance |volume=14 |pages=68–83}}</ref>

The 2021 [[Nobel Prize in Physics]] was awarded to [[Syukuro Manabe]], [[Klaus Hasselmann]], and [[Giorgio Parisi]] for their work to understand complex systems. Their work was used to create more accurate computer models of the effect of global warming on the Earth's climate.<ref>{{Cite news |date=5 October 2021 |title=Nobel in physics: Climate science breakthroughs earn prize |publisher=BBC News |url=https://www.bbc.co.uk/news/science-environment-58790160}}</ref>