Principles Of Complexity Economics
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Principles Of Complexity Economics
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Author : Michael Roos
language : en
Publisher: Springer
Release Date : 2024-05-23
Principles Of Complexity Economics written by Michael Roos and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-23 with Business & Economics categories.
This textbook serves as an introduction to the rising field of complexity economics. In thirteen chapters, it provides a comprehensive and systematic overview of the concepts and methods of complexity economics and their applications to economic issues. The book explains that the complexity approach is not just another method, but a worldview that is different from the one of academics with neoclassical training. By contrasting complexity economics with neoclassical economics, the readers are induced to reflect on their own unconscious beliefs about the economic world and develop their own approach to dealing with the pervasive complexities and uncertainties of reality. The first five chapters serve as an introduction and overview. Chapters 6 - 12 present the core concepts of the book. Each of the seven chapters introduces a key concept of complexity and provides applications to economics topics. The final chapter discusses the implications of complexity thinking for economic policy and for the future development of economics. This textbook addresses advanced undergraduate students and graduate students of economics, interested in a better understanding of the concepts and the way of thinking in complexity economics, as well as in acquiring a sound technical foundation to understand most of the research literature.
Complexity And The History Of Economic Thought
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Author :
language : en
Publisher: Routledge
Release Date :
Complexity And The History Of Economic Thought written by and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Complexity Economics
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Author : Olivér Kovács
language : en
Publisher: Routledge
Release Date : 2022-07-15
Complexity Economics written by Olivér Kovács and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-15 with Business & Economics categories.
Our socio–economic innovation ecosystem is riddled with ever-increasing complexity, as we are faced with more frequent and intense shocks, such as COVID-19. Unfortunately, addressing complexity requires a different kind of economic governance. There is increasing pressure on economics to not only going beyond its traditional mainstream boundaries but also to tackle real-world problems, such as fostering structural change, enhancing sustained growth, promoting inclusive development in the era of the digital economy, and boosting green growth, while addressing the divide between the financial sector and the real economy. This book demonstrates how to apply complexity science to economics in an effective and instructive way, in the interest of life-enhancing policies. The book revolves around the non-negligible problem of why economics, to date, seems to be inadequate in guiding economic governance to navigate through real and ever-intensifying complex socio–economic and environmental challenges. With its interdisciplinary approach, the book scans the nuanced nexus between complexity and economics by incorporating, as well as transcending, the state-of-the-art literature. It identifies ways to trigger opportunities for behavioural change in the economic profession with respect to how and what to teach, introducing and developing further complexity economics taking into account the configuration of its main principles and outlining the silhouette of next-generation economic governance. The book deciphers recommendations for economic theory, practice, education and economic governance. It will be of interest to students, scholars, academics, think-tank researchers and economic policy practitioners at the national and/or supranational levels.
The Complexity Vision And The Teaching Of Economics
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Author : David C. Colander
language : en
Publisher: Edward Elgar Publishing
Release Date : 2000
The Complexity Vision And The Teaching Of Economics written by David C. Colander 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 2000 with Business & Economics categories.
This ground-breaking book focuses on the implications of the complexity vision, such as that held by economists at the Santa Fe Institute, for the teaching of economics. This complexity vision suggests that answers to questions such as how do markets develop and how do they evolve need to be approached head on. Complexity economics is beginning to do just that. Most of the work in complexity is highly formal and technical; it seems far away from issues such as the teaching of economics. This book is different. The focus of this book is not on the grand theories, or technical aspects, of complexity. Instead it is on the teaching of economics. It asks the question: how would the teaching of economics change if complexity is taken seriously? An outstanding group of contributors, including Brian Arthur, Buz Brock, and Duncan Foley, provide interesting and provocative answers to that question in a non-technical and highly accessible style. It is a book that should be read by all those teaching economics, as well as those who are interested in where the complexity revolution in science might be leading.
It S Not Complicated
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Author : Rick Nason
language : en
Publisher: University of Toronto Press
Release Date : 2017-01-01
It S Not Complicated written by Rick Nason and has been published by University of Toronto Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-01 with Business & Economics categories.
It's Not Complicated offers a paradigm shift for business professionals looking for simplified solutions to complex problems. Rick Nason introduces the principles of "complexity thinking" which empower managers to understand, correlate, and explain a diverse range of business phenomena.
Foundations And Applications Of Complexity Economics
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Author : Rosser, Jr. (J. Barkley)
language : en
Publisher:
Release Date : 2021
Foundations And Applications Of Complexity Economics written by Rosser, Jr. (J. Barkley) 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 book presents a survey of the aspects of economic complexity, with a focus on foundational, interdisciplinary ideas. The long-awaited follow up to his 2011 volume Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems: From Catastrophe to Chaos and Beyond, this volume draws together the threads of Rosser's earlier work on complexity theory and its wide applications in economics and an expanded list of related disciplines. The book begins with a full account of the broader categories of complexity in economics--dynamic, computational, hierarchical, and structural--before shifting to more detailed analysis. The next two chapters address problems associated with computational complexity, especially those of computability, and discuss the Godel Incompleteness Theorem with a focus on reflexivity. The middle chapters discuss the relationship between entropy, econophysics, evolution, and economic complexity, respectively, with applications in urban and regional dynamics, ecological economics, general equilibrium theory, as well as financial market dynamics. The final chapter works to bring together these themes into a broader framework and expose some of the limits concerning analysis of deeper foundational issues. With applications in all disciplines characterized by interconnected nonlinear adaptive systems, this book is appropriate for graduate students, professors and practitioners in economics and related disciplines such as regional science, mathematics, physics, biology, environmental sciences, philosophy, and psychology.
Complexity Approach To Sustainability A Theory And Application Second Edition
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Author : Espinosa Angela
language : en
Publisher: World Scientific
Release Date : 2017-03-23
Complexity Approach To Sustainability A Theory And Application Second Edition written by Espinosa Angela and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-23 with Business & Economics categories.
Business sustainability and sustainable development are of great importance in modern-day socio-economic study. Despite this, the impact of recent contributions from systems and complexity sciences in addressing these issues has not yet filtered down into effective practice. This book argues that there is a need for urgency in the application of analytical tools which embody the principles of complexity management in sustainability research, in particular in the context of the global climate change. The approach presented is based on the concept of clusters of whole systems coming together through collaboration, in order to create larger wholes capable of dealing with the issues facing our socio-economic environmental systems. In this updated second edition, the authors further clarify the viability and sustainability (V&S) approach, and the criteria and framework needed for sustainable governance. It includes a more detailed perspective on the implications of the V&S approach to businesses and networks towards changes in structure, strategy and processes, inspired by specific case studies. Key additions include a criteria for designing more viable and sustainable self-governed organizations, the methodologies and tools to design and implement self-transformations towards sustainability, and how these tools support sustainability management individually and globally, for businesses and society.
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.
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.
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.