This volume investigates the limitations of traditional equilibrium-based market models by proposing a complex systems framework to quantify actual market efficiency. Edited by J.D. Farmer, the text synthesizes interdisciplinary research from economics, physics, and biology to challenge the assumption of perfectly efficient markets. By integrating insights from agent-based modeling and behavioral psychology, the contributors argue for a more dynamic, quantitative approach to understanding financial volatility and self-organized market behavior.

Experts recognize this volume as a significant contribution to the Santa Fe Institute's ongoing research into the sciences of complexity. Readers frequently note the technical density of the prose, which assumes a strong background in quantitative modeling and economic theory.