Nonlinearity Complexity And Randomness In Economics
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Nonlinearity Complexity And Randomness In Economics
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Author : Stefano Zambelli
language : en
Publisher: John Wiley & Sons
Release Date : 2012-01-17
Nonlinearity Complexity And Randomness In Economics written by Stefano Zambelli and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-17 with Business & Economics categories.
Nonlinearity, Complexity and Randomness in Economics presents a variety of papers by leading economists, scientists, and philosophers who focus on different aspects of nonlinearity, complexity and randomness, and their implications for economics. A theme of the book is that economics should be based on algorithmic, computable mathematical foundations. Features an interdisciplinary collection of papers by economists, scientists, and philosophers Presents new approaches to macroeconomic modelling, agent-based modelling, financial markets, and emergent complexity Reveals how economics today must be based on algorithmic, computable mathematical foundations
Complexity In Economics Cutting Edge Research
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Author : Marisa Faggini
language : en
Publisher: Springer
Release Date : 2014-06-26
Complexity In Economics Cutting Edge Research written by Marisa Faggini and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-26 with Business & Economics categories.
In this book, leading experts discuss innovative components of complexity theory and chaos theory in economics. The underlying perspective is that investigations of economic phenomena should view these phenomena not as deterministic, predictable and mechanistic but rather as process dependent, organic and always evolving. The aim is to highlight the exciting potential of this approach in economics and its ability to overcome the limitations of past research and offer important new insights. The book offers a stimulating mix of theory, examples and policy. By casting light on a variety of topics in the field, it will provide an ideal platform for researchers wishing to deepen their understanding and identify areas for further investigation.
Economic Complexity Chaos Sunspots Bubbles And Nonlinearity
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Author : William A. Barnett
language : en
Publisher: Cambridge University Press
Release Date : 1989-07-28
Economic Complexity Chaos Sunspots Bubbles And Nonlinearity written by William A. Barnett 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 1989-07-28 with Business & Economics categories.
The contents of this volume comprise the proceedings of the International Symposia in Economic Theory and Econometrics conference held in 1987 at the IC^T2 (Innovation, Creativity, and Capital) Institute at the University of Texas at Austin. The essays present fundamental new research on the analysis of complicated outcomes in relatively simple macroeconomic models. The book covers econometric modelling and time series analysis techniques in five parts. Part I focuses on sunspot equilibria, the study of uncertainty generated by nonstochastic economic models. Part II examines the more traditional examples of deterministic chaos: bubbles, instability, and hyperinflation. Part III contains the most current literature dealing with empirical tests for chaos and strange attractors. Part IV deals with chaos and informational complexity. Part V, Nonlinear Econometric Modelling, includes tests for and applications of nonlinearity.
Complexity In Economic And Social Systems
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Author : Stanisław Drożdż
language : en
Publisher: MDPI
Release Date : 2021-05-11
Complexity In Economic And Social Systems written by Stanisław Drożdż and has been published by MDPI this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-11 with Business & Economics categories.
There is no term that better describes the essential features of human society than complexity. On various levels, from the decision-making processes of individuals, through to the interactions between individuals leading to the spontaneous formation of groups and social hierarchies, up to the collective, herding processes that reshape whole societies, all these features share the property of irreducibility, i.e., they require a holistic, multi-level approach formed by researchers from different disciplines. This Special Issue aims to collect research studies that, by exploiting the latest advances in physics, economics, complex networks, and data science, make a step towards understanding these economic and social systems. The majority of submissions are devoted to financial market analysis and modeling, including the stock and cryptocurrency markets in the COVID-19 pandemic, systemic risk quantification and control, wealth condensation, the innovation-related performance of companies, and more. Looking more at societies, there are papers that deal with regional development, land speculation, and the-fake news-fighting strategies, the issues which are of central interest in contemporary society. On top of this, one of the contributions proposes a new, improved complexity measure.
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.
Chaos Complexity And Nonlinear Economic Theory
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Author : Wei-bin Zhang
language : en
Publisher: World Scientific
Release Date : 2023-05-17
Chaos Complexity And Nonlinear Economic Theory written by Wei-bin Zhang and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-17 with Mathematics categories.
What do economic chaos and uncertainties mean in rational or irrational economic theories? How do simple deterministic interactions among a few variables lead to unpredictable complex phenomena? Why is complexity of economies causing so many conflicts and confusions worldwide?This book provides a comprehensive introduction to recent developments of complexity theory in economics. It presents different models based on well-accepted economic mechanisms such as the Solow model, Ramsey model, and Lucas model. It is focused on presenting complex behaviors, such as business cycles, aperiodic motion, bifurcations, catastrophes, chaos, and hidden attractors, in basic economic models with nonlinear behavior. It shows how complex nonlinear phenomena are identified from various economic mechanisms and theories. These models demonstrate that the traditional or dominant economic views on evolution of, for instance, capitalism market, free competition, or Keynesian economics, are not generally valid. Markets are unpredictable and nobody knows with certainty the consequences of policies or other external factors in economic systems with simple interactions.
Nonlinear Dynamics In Economics Finance And The Social Sciences
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Author : Gian Italo Bischi
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-12-15
Nonlinear Dynamics In Economics Finance And The Social Sciences written by Gian Italo Bischi 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 2009-12-15 with Business & Economics categories.
Over the last two decades there has been a great deal of research into nonlinear dynamic models in economics, finance and the social sciences. This book contains twenty papers that range over very recent applications in these areas. Topics covered include structural change and economic growth, disequilibrium dynamics and economic policy as well as models with boundedly rational agents. The book illustrates some of the most recent research tools in this area and will be of interest to economists working in economic dynamics and to mathematicians interested in seeing ideas from nonlinear dynamics and complexity theory applied to the economic sciences.
Economics Advances In Research And Application 2012 Edition
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Author :
language : en
Publisher: ScholarlyEditions
Release Date : 2012-12-26
Economics Advances In Research And Application 2012 Edition written by and has been published by ScholarlyEditions this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-26 with Business & Economics categories.
Economics—Advances in Research and Application: 2012 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about Economics. The editors have built Economics—Advances in Research and Application: 2012 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Economics in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Economics—Advances in Research and Application: 2012 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Coping With The Complexity Of Economics
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Author : Marisa Faggini
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-05-05
Coping With The Complexity Of Economics written by Marisa Faggini 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 2009-05-05 with Science categories.
Throughout the history of economics, a variety of analytical tools have been borrowed from the so-called exact sciences. As Schoe?er (1955) puts it: “They have taken their mathematics and their ded- tive techniques from physics, their statistics from genetics and agr- omy, their systems of classi?cation from taxonomy and chemistry, their model-construction techniques from astronomy and mechanics, and their methods of analysis of the consequences of actions from en- neering”. The possibility of similarities of structure in mathematical models of economic and physical systems has been an important f- tor in the development of neoclassical theory. To treat the state of an economy as an equilibrium, analogous to the equilibrium of a mech- ical system has been a key concept in economics ever since it became a mathematically formalized science. Adopting a Newtonian paradigm neoclassical economics often is based on three fundamental concepts. Firstly, the representative agent who is a scale model of the whole society with extraordinary capacities, particularly concerning her - pability of information processing and computation. Of course, this is a problematic reduction as agents are both heterogeneous and bou- edly rational and limited in their cognitive capabilities. Secondly, it often con?ned itself to study systems in a state of equilibrium. But this concept is not adequate to describe and to support phenomena in perpetual motion.
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.