Complex Systems Approach To Economic Dynamics
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Complex Systems Approach To Economic Dynamics
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Author : Abraham C.-L. Chian
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-08-17
Complex Systems Approach To Economic Dynamics written by Abraham C.-L. Chian and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-08-17 with Business & Economics categories.
Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts of unstable periodic orbits and chaotic saddles, which are unstable structures embedded in a chaotic attractor and responsible for economic intermittency.
Nonlinearities In Economics
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Author : Giuseppe Orlando
language : en
Publisher: Springer Nature
Release Date : 2021-08-31
Nonlinearities In Economics written by Giuseppe Orlando and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-31 with Business & Economics categories.
This interdisciplinary book argues that the economy has an underlying non-linear structure and that business cycles are endogenous, which allows a greater explanatory power with respect to the traditional assumption that dynamics are stochastic and shocks are exogenous. The first part of this work is formal-methodological and provides the mathematical background needed for the remainder, while the second part presents the view that signal processing involves construction and deconstruction of information and that the efficacy of this process can be measured. The third part focuses on economics and provides the related background and literature on economic dynamics and the fourth part is devoted to new perspectives in understanding nonlinearities in economic dynamics: growth and cycles. By pursuing this approach, the book seeks to (1) determine whether, and if so where, common features exist, (2) discover some hidden features of economic dynamics, and (3) highlight specific indicators of structural changes in time series. Accordingly, it is a must read for everyone interested in a better understanding of economic dynamics, business cycles, econometrics and complex systems, as well as non-linear dynamics and chaos theory.
Complex Systems Modeling And Simulation In Economics And Finance
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Author : Shu-Heng Chen
language : en
Publisher: Springer
Release Date : 2018-11-20
Complex Systems Modeling And Simulation In Economics And Finance written by Shu-Heng Chen and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-20 with Business & Economics categories.
This title brings together frontier research on complex economic systems, heterogeneous interacting agents, bounded rationality, and nonlinear dynamics in economics. The book contains the proceedings of the CEF2015 (21st Computing in Economics in Finance), held 20-22 June 2015 in Taipei, Taiwan, and addresses some of the important driving forces for various emergent properties in economies, when viewed as complex systems. The breakthroughs reported in this book are a result of an interdisciplinary approach and simulation remains the unifying theme for these papers as they deal with a wide range of topics in economics. The text is a valuable addition to the efforts in promoting the complex systems view in economic science. The computational experiments reported in the book are both transparent and replicable. Complex System Modeling and Simulation in Economics and Finance is useful for graduate courses of complex systems, with particular focus on economics and finance. At the same time it serves as a good overview for researchers who are interested in the topic.
Foundations Of Complex System Theories
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Author : Sunny Y. Auyang
language : en
Publisher: Cambridge University Press
Release Date : 1998
Foundations Of Complex System Theories written by Sunny Y. Auyang and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
Analyzes approaches to the study of complexity in the physical, biological, and social sciences.
Barriers And Bounds To Rationality
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Author : Peter Albin
language : en
Publisher: Princeton University Press
Release Date : 2021-10-12
Barriers And Bounds To Rationality written by Peter Albin and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-12 with Business & Economics categories.
Peter Albin is known for his seminal work in applying the concepts of adaptive dynamical systems, first developed by biologists and physicists, to the study of economic systems. This book is a collection of his pathbreaking articles on the application of cellular automata and complexity theory to economic problems. Duncan Foley provides a thoughtful introduction in which he reviews the disparate analytical sources of Albin's work in the theories of nonlinear dynamical systems, economic dynamics, cellular automata, linguistic and computational complexity, and bounded rationality. Albin has analyzed economic systems as interactions of highly complex components (i.e., intelligent human beings). He uses the theories of generative linguistics and cellular automata to establish that the complexity level of economic systems is, in principle at least, that of a Turing machine or general-purpose computer, establishing that classic economic approaches to the problems of household and firm choice, macroeconomic prediction, and policy evaluation may give rise to undecidable propositions and uncomputable functions. He develops simple models of dynamic economic interaction based on cellular automata which illustrate the inherent complexity of economic interactions and the resulting challenge they pose to traditional theories of rational economic behavior. These models explore the dynamics of the business cycle, decentralized market trading, and the emergence of cooperation in a novel local-interaction version of the repeated prisoners' dilemma game. Albin's work provides a unique and important perspective on economic systems.
Complex Systems In Finance And Econometrics
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Author : Robert A. Meyers
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-11-03
Complex Systems In Finance And Econometrics written by Robert A. Meyers and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-03 with Business & Economics categories.
Finance, Econometrics and System Dynamics presents an overview of the concepts and tools for analyzing complex systems in a wide range of fields. The text integrates complexity with deterministic equations and concepts from real world examples, and appeals to a broad audience.
Nonlinearities In Economics
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Author : Giuseppe Orlando
language : en
Publisher:
Release Date : 2021
Nonlinearities In Economics written by Giuseppe Orlando and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
This interdisciplinary book argues that the economy has an underlying non-linear structure and that business cycles are endogenous, which allows a greater explanatory power with respect to the traditional assumption that dynamics are stochastic and shocks are exogenous. The first part of this work is formal-methodological and provides the mathematical background needed for the remainder, while the second part presents the view that signal processing involves construction and deconstruction of information and that the efficacy of this process can be measured. The third part focuses on economics and provides the related background and literature on economic dynamics and the fourth part is devoted to new perspectives in understanding nonlinearities in economic dynamics: growth and cycles. By pursuing this approach, the book seeks to (1) determine whether, and if so where, common features exist, (2) discover some hidden features of economic dynamics, and (3) highlight specific indicators of structural changes in time series. Accordingly, it is a must read for everyone interested in a better understanding of economic dynamics, business cycles, econometrics and complex systems, as well as non-linear dynamics and chaos theory. " This highly-valuable book is a great entry-point for understanding the economy as a self-organizing non-linear dynamical system. This book not only introduces the reader to advanced techniques but also applies them to modern economic growth and business cycle models." Markus Brunnermeier, Edwards S. Sanford Professor of Economics, Director of the Bendheim Center for Finance, Princeton University, USA.
Computer Based Management Of Complex Systems
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Author : Peter M. Milling
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Computer Based Management Of Complex Systems written by Peter M. Milling and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Especially during the last decade, the systems approach gained wide spread attention and increased influence in the world of academics and business. The holistic view of how individual elements interact with ea~h other to form an entity -not a collection of isolated parts -becomes more and more important. Whether it is called "integration" as in Computer Integrated Manufacturing, "organism" in ecological studies, or "network" like the communication network, it is the system's idea which opens neVI' dimensions for insights, applications and development. System Dynamics -or Industrial Dynamics as it was called during its early years by its founder and mentor, M.I.T.'s now Professor Emeritus Jay W. Forrester, -pioneered the use of system concepts and computer simulation for the analysis of complex problems in business and management. It was applied to study the dynamics of corporations, cities, national economies and, finally, the global problems of man and in his limited and fragile environment. The field has reached a stage of self sustained development and momentum. A few years ago the System Dynamics Society was founded, a high quality academic journal is now published in its fifth volume, and the annual International Conferences of the Society were institutionalized and took place in America, Europe and Asia. The organization of international meet· ings for this scientific community, however, is older than the System Dynamics Society itself. The first conventions were held as special sections of conferences devoted to simulation or cybernetics.
Evolutionary Dynamics And Sustainable Development
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Author : Norman Clark
language : en
Publisher: Edward Elgar Publishing
Release Date : 1995
Evolutionary Dynamics And Sustainable Development written by Norman Clark and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
This work offers an approach to socio-economic systems which emphasizes their evolutionary nature. Economic development is shown as a process of structural change. The discussion in the book includes the use of decision tools which can simultaneously handle spatial and temporal evolution.
Agent Based Approaches In Economic And Social Complex Systems Viii
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Author : Yutaka Nakai
language : en
Publisher: Springer
Release Date : 2015-06-05
Agent Based Approaches In Economic And Social Complex Systems Viii written by Yutaka Nakai and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-05 with Political Science categories.
Agent-based modeling/simulation is an emergent approach to the analysis of social and economic systems. It provides a bottom-up experimental method to be applied to social sciences such as economics, management, sociology and politics as well as some engineering fields dealing with social activities. This book includes selected papers presented at the Eighth International Workshop on Agent-Based Approaches in Economic and Social Complex Systems held in Tokyo, Japan, in 2013. At the workshop, 23 reviewed full papers were presented and of those, 13 were selected to be included in this volume.