The invisible wand: adaptive co-management as an emergent strategy in complex bio-economic system

Abstract

This paper provides an economic perspective on concepts related to adaptive co-management (ACM). The hypothesis of whether ACM can be regarded as an emergent strategy under specific conditions was explicitly explored. The discussion is cast within a formal generalized complex systems framework. For a complex bio-economic system, it is proposed that an 'altruistic common interest' can act as a forcing factor (invisible wand) that leads to certain dominant emergent strategies that promote long-term sustainability and human well-being.