Complexity And The Economy
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Complexity And The Economy
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Author : W. Brian Arthur
language : en
Publisher: Oxford University Press, USA
Release Date : 2015
Complexity And The Economy written by W. Brian Arthur and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.
A collection of previous published papers by the author on the subject of complexity economics, appearing from the 1980s to the present.
Complexity And The Economy
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Author : John H. Finch
language : en
Publisher: Edward Elgar Publishing
Release Date : 2005-01-01
Complexity And The Economy written by John H. Finch 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 2005-01-01 with Business & Economics categories.
The internationally-renowned contributors to this book examine the causes and consequences of complexity among the broadly economic phenomena of firms, industries and socio-economic policy. They make a valuable contribution to the increasingly prominent subject of complexity, especially for those whose interests include evolutionary, behavioral, political and social approaches to understanding economics and economic phenomena.
The Economy As An Evolving Complex System Ii
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Author : W. Brian Arthur
language : en
Publisher: CRC Press
Release Date : 2018-05-04
The Economy As An Evolving Complex System Ii written by W. Brian Arthur and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-04 with Mathematics categories.
A new view of the economy as an evolving, complex system has been pioneered at the Santa Fe Institute over the last ten years, This volume is a collection of articles that shape and define this view?a view of the economy as emerging from the interactions of individual agents whose behavior constantly evolves, whose strategies and actions are always adapting.The traditional framework in economics portrays activity within an equilibrium steady state. The interacting agents in the economy are typically homogenous, solve well-defined problems using perfect rationality, and act within given legal and social structures. The complexity approach, by contrast, sees economic activity as continually changing?continually in process. The interacting agents are typically heterogeneous, they must cognitively interpret the problems they face, and together they create the structures?markets, legal and social institutions, price patters, expectations?to which they individually react. Such structures may never settle down. Agents may forever adapt and explore and evolve their behaviors within structures that continually emerge and change and disappear?structures these behaviors co-create. This complexity approach does not replace the equilibrium one?it complements it.The papers here collected originated at a recent conference at the Santa Fe Institute, which was called to follow up the well-known 1987 SFI conference organized by Philip Anderson, Kenneth Arrow, and David Pines. They survey the new study of complexity and the economy. They apply this approach to real economic problems and they show the extent to which the initial vision of the 1987 conference has come to fruition.
Complexity And The History Of Economic Thought
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Author : David Colander
language : en
Publisher: Routledge
Release Date : 2000-04-13
Complexity And The History Of Economic Thought written by David Colander and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-04-13 with Business & Economics categories.
A new approach to science has recently developed. It is called the complexity approach. A number of researchers, such as Brian Arthur and Buz Brock, have used this approach to consider issues in economics. This volume considers the complexity approach to economics from a history of thought and methodological perspectives. It finds that the ideas un
Economy As An Evolving Complex System Ii
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Author : W. BRIAN. ARTHUR
language : en
Publisher:
Release Date : 2019-06-14
Economy As An Evolving Complex System Ii written by W. BRIAN. ARTHUR and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-14 with categories.
Complexity Hints For Economic Policy
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Author : Massimo Salzano
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-05-15
Complexity Hints For Economic Policy written by Massimo Salzano 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 2007-05-15 with Political Science categories.
This book considers the benefits of complexity, suggesting that economists should become a bit less certain in their policy conclusions. A broader range of models would include agent-based models, which use computational power to deal with specification of models that are far beyond analytic solution; and non-linear dynamic stochastic models, many of which are beyond analytic solution, but whose nature can be discovered by a combination of analytics and computer simulations.
The Economy As An Evolving Complex System
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Author : Philip W. Anderson
language : en
Publisher: Westview Press
Release Date : 1988-01-22
The Economy As An Evolving Complex System written by Philip W. Anderson and has been published by Westview Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-01-22 with Science categories.
This book proceeds from a meeting at the Santa Fe Institute where economists and physical and biological scientists came together to discuss a conceptual framework incorporating a more appropriate mathematics with a greatly strengthened capacity to deal simultaneously with multiple variables, nonlinearity, incomplete information and dynamical processes.
The Atlas Of Economic Complexity
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Author : Ricardo Hausmann
language : en
Publisher: MIT Press
Release Date : 2014-01-17
The Atlas Of Economic Complexity written by Ricardo Hausmann and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-17 with Business & Economics categories.
Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.
The Origin Of Wealth
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Author : Eric D. Beinhocker
language : en
Publisher: Harvard Business Press
Release Date : 2006
The Origin Of Wealth written by Eric D. Beinhocker and has been published by Harvard Business Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Beinhocker has written this work in order to introduce a broad audience to what he believes is a revolutionary new paradigm in economics and its implications for our understanding of the creation of wealth. He describes how the growing field of complexity theory allows for evolutionary understanding of wealth creation, in which business designs co-evolve with the evolution of technologies and organizational innovations. In addition to giving his audience a tour of this field of complexity economics, he discusses its implications for real-world issues of business.
Economic Complexity And Equilibrium Illusion
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Author : Ping Chen
language : en
Publisher: Routledge
Release Date : 2010-04-05
Economic Complexity And Equilibrium Illusion written by Ping Chen and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-05 with Business & Economics categories.
The Principle of Large Numbers indicates that macro fluctuations have weak microfoundations; persistent business cycles and interrupted technologies can be better characterized by macro vitality and meso foundations. Economic growth is limited by market extent and ecological constraints. The trade-off between stability and complexity is the foundation of cultural diversity and mixed economies. The new science of complexity sheds light on the sources of economic instability and complexity. This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. They are selected from works completed since 1987, including original research on the evolutionary dynamics of the division of labour, empirical and theoretical studies of economic chaos and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenged by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs. Throughout, a general theory based on complex evolutionary economics is developed, which integrates different insights from Marx, Marshall, Schumpeter, Keynes and offers a new understanding of the evolutionary history of division of labour. This book will be of interest to postgraduates and researchers in Economics, including macroeconomics, financial economics, advanced econometrics and economic methodology.