Design, systems approaches, and the engineering-economics nexus

Abstract

Economics and engineering are discovering new opportunities for cross-fertilization. This is partly given to the advent of modern artificial intelligence methods. These opportunities have appeared in the past, resulting in marginal improvements toward integration. As explained by Mariotti (Journal of Industrial and Business Economics, 2021), over the years there has been an intertwining of the two disciplines along the progression of economics for/and/as engineering. Mariotti (2021) also points out that a real transdisciplinary integration (i.e., à la Prigogine) implies a mutual nurturing, where one discipline´s conceptual apparatus is incorporated into the other. A fine-grained view of the epistemological differences of the two disciplines reveals that an integration might be more likely along some, but not all directions. I explain these differences based on different connotations of the concept of design. Particularly, when referring to design aspects of social systems, I also argue that systems approaches may serve as a bridge to integrate economics and engineering. Finally, I offer alternatives to explore how this integration might be undertaken.