The Economy As An Evolving Complex System

by Philip W. Anderson, Kenneth Arrow, David Pines

Overview

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.

Product Details

ISBN-13:	9780367091125
Publisher:	CRC Press
Publication date:	05/07/2019
Series:	Santa Fe Institute
Pages:	336
Product dimensions:	6.00(w) x 9.00(h) x (d)

About the Author

David Pines is research professor of physics at the University of Illinois at Urbana-Champaign. He has made pioneering contributions to an understanding of many-body problems in condensed matter and nuclear physics, and to theoretical astrophysics. Editor of Perseus' Frontiers in Physics series and former editor of American Physical Society's Reviews of Modern Physics, Dr. Pines is a member of the National Academy of Sciences, the American Philosophical Society, a foreign member of the USSR Academy of Sciences, a fellow of the American Academy of Arts and Sciences, and of the American Association for the Advancement of Science. Dr. Pines has received a number of awards, including the Eugene Feenberg Memorial Medal for Contributions to Many-Body Theory; the P.A.M. Dirac Silver Medal for the Advancement of Theoretical Physics; and the Friemann Prize in Condensed Matter Physics.

Table of Contents

* Foreward P.W. Anderson, Kenneth J. Arrow, and David Pines * Introduction and Overview David Pines Lectures And Perspectives * Self-Reinforcing Mechanisms in Economics W. Brian Arthur * Neural Nets for Economists Eric B. Baum * Persistent Oscillations and Chaos in Economic Models: Notes for a Survey Michele Boldrin * Nonlinearity and Complex Dynamics in Economics and Finance William A. Brock * Can New Approaches to Nonlinear Modeling Improve Economic Forecasts? J. Doyne Farmer and John J. Sidorowich * The Global Economy as an Adaptive Process John H. Holland * The Evolution of Economic Webs Stuart A. Kauffman * Computation and Multiplicity of Economic Equilibria Timothy J. Kehoe * A Simple Model for Dynamics away from Attractors Norman Packard * Statistical Mechanics Approaches to Complex Optimization Problems Richard Palmer * Can Nonlinear Dynamics Help Economists? David Ruelle * Rational Expectations, Game Theory and Inflationary Inertia Mario Henrique Simonsen Working Group Summaries * Working Group A: Techniques and Webs J. Guenther, J. Holland, S. Kauffman, T. Kehoe, T. Sargent, and E. Singer * Working Group B: Economic Cycles K. Arrow, W. Brock D. Farmer, D. Pines, D. Ruelle, J. Scheinkman, M. Simonsen, and L. Summers * Working Group C: Patterns P.W. Anderson, W.B. Arthur, E. Baum, M. Boldrin, N. Packard, J. Scheinkman, and L. Summers Final Plenary Discussion * Final Plenary Discussion Richard Palmer Summaries And Perspectives * A Physicist Looks at Economics: An Overview of the Workshop P.W. Anderson * Workshop on the Economy as an Evolving Complex System: Summary Kenneth J. Arrow Research Papers * Learning-By-Doing, International Trade and Growth: A Note Michele Boldrin and Jose A. Sheinkman * Lyapunov Exponents for Stock Returns J.-P. Eckmann, S. Oliffson Kamphorst, D. Ruelle and J. Scheinkman