Economic Complexity: Non-Linear Dynamics, Multi-Agents Economies, and Learning / Edition 1

Economic Complexity: Non-Linear Dynamics, Multi-Agents Economies, and Learning / Edition 1

by William A Barnett
     
 

ISBN-10: 0444514333

ISBN-13: 9780444514332

Pub. Date: 02/01/2004

Publisher: Emerald Group Publishing

The last fifteen or twenty years have been marked by fundamental advances in the sources of complex behavior in micro- and macro-economics, in the practical and methodological implications of such behavior, and in the methods and tools appropriate to cope with them. Much of these developments have been driven by the recognition and acceptance by economists of…  See more details below

Overview

The last fifteen or twenty years have been marked by fundamental advances in the sources of complex behavior in micro- and macro-economics, in the practical and methodological implications of such behavior, and in the methods and tools appropriate to cope with them. Much of these developments have been driven by the recognition and acceptance by economists of approaches initiated in other fields - such as non-linear dynamics, statistical physics, network theory, biology, computer science, and the use of computational methods as problem-solving tools - giving rise to important and innovative impulses to economic thinking.

The sixteen papers in this book — the fourteenth volume in the series International Symposia in Economic Theory and Econometrics - reflect from various perspectives this recent evolution. They are the outgrow from a selection of communications presented at the COMPLEXITY2000 workshop held in Aix en Provence, France, 4-6 May 2000 - a workshop that brought together, from twenty-two nations, almost seventy economists, mathematicians, biologists and physicists interested in complex phenomena. All papers were strictly refereed in the intended tradition of the series: to provide journal quality collections of research papers of unusual importance in areas of currently highly visible activity within the economics profession.

With its selection of articles, the book presents an overview of advanced contributions to complexity in economics and social system, such as chaotic dynamics and multiple equilibria, agent-based models, applications of genetic algorithms, non-equilibrium macro-dynamics, information transmission, learning mechanisms. Although thepapers address economic problems, the authorship and the perspectives presented are interdisciplinary and provide therefore a number of innovative insights and solutions to classical or new questions.

Read More

Product Details

ISBN-13:
9780444514332
Publisher:
Emerald Group Publishing
Publication date:
02/01/2004
Series:
International Symposia in Economic Theory and Econometrics
Pages:
492
Product dimensions:
6.14(w) x 9.21(h) x 1.06(d)

Table of Contents

Introduction to the Series
Foreword
Contributors
Ch. 1A Simple Growth-Cycle Model Displaying "Sil'nikov Chaos"3
Ch. 2Real-Financial Interaction: A Reconsideration of the Blanchard Model with a State-of-Market Dependent Reaction Coefficient31
Ch. 3Complex Remanence vs. Simple Persistence: Are Hysteresis and Unit-Root Processes Observationally Equivalent?67
Ch. 4Multiple Equilibria, History Dependence, and Global Dynamics in Intertemporal Optimization Models91
Ch. 5On Information-Contagious Behavior125
Ch. 6The Origins of the Deadline: Optimizing Communication in Organizations159
Ch. 7Organization of Innovation in a Multi-unit Firm: Coordinating Adaptive Search on Multiple Rugged Landscapes189
Ch. 8Patterns of Consumption in a Discrete Choice Model with Asymmetric Interactions215
Ch. 9Interaction in Aggregate Demand for Investment and Regime Switching237
Ch. 10Speculative Bubbles and Fat-Tail Phenomena in a Heterogeneous Agent Model259
Ch. 11Chaotic Price Instability Implies Benefit for Consumers277
Ch. 12A Dynamic Non-Tatonnement Macroeconomic Model with Stochastic Rationing301
Ch. 13Expectational Leads in Economic Dynamical Systems333
Ch. 14Dynamics of Beliefs and Learning Under a[subscript L]-Processes - The Homogeneous Case363
Ch. 15Genetic Learning of Nash Equilibria in Illicit Drug Markets and Prerequisites for a Successful Crackdown391
Ch. 16The Dynamics of the Linear Random Farmer Model411
Bibliography431
Subject Index457

Read More

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >