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Nonlinear Dynamics and Evolutionary Economics

1993 Business & Economics
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Release : 1993
Genre : Business & Economics
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Book Synopsis Nonlinear Dynamics and Evolutionary Economics by : Richard Hollis Day

Download or read book Nonlinear Dynamics and Evolutionary Economics written by Richard Hollis Day. This book was released on 1993. Available in PDF, EPUB and Kindle. Book excerpt: Advances in physics, computers, and mathematics have made it possible to illustrate an astonishing array of potential behavior that can occur when nonlinear interactions are present. As Prigogine explains from a physicist's perspective, the fundamental role of instability and bounded rationality provide more precise understanding for evolution and changes. This volume considers these developments from various fields in the context of economic science. The work starts with a general non-mathematical discussion, introducing the major themes--nonlinearity, dynamical systems, and evolution in economic processes. The work continues with nonlinear analysis of macroeconomic growth and fluctuations. It describes analyses of economic adaptation, learning, and self-organization. The volume also scrutinizes a specific market--equities using nonlinear analysis, controlled experiments, and statistical inference when nonlinearity plays an essential role in data generation. The volume closes with an historical reflection by Richard Goodwin and a roundtable discussion on basic issues and new challenges in nonlinear economic dynamics.

Evolutionary Controversies in Economics

2011-06-27 Business & Economics
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Release : 2011-06-27
Genre : Business & Economics
Kind : eBook
Book Rating : 030/5 ( reviews)

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Book Synopsis Evolutionary Controversies in Economics by : Japan Association for Evolutionary Economics

Download or read book Evolutionary Controversies in Economics written by Japan Association for Evolutionary Economics. This book was released on 2011-06-27. Available in PDF, EPUB and Kindle. Book excerpt: In March 1997, we launched the Japan Association for Evolutionary Economics {JAFEE) to gather the academic minds that, out of dissatisfaction with established dynamic approaches, were separately searching for new approaches to economics. To our surprise and joy,as many as 500members, including graduate students,joined us. Later that year Prof. Horst Hanusch, then President of the International [oseph A. Schumpeter Society, remarked that such a start would take a couple of decades in Europe to prepare for. Since then we have been developing our activities incessantly not only in terms of the number of members, but also in terms of the intensity of international academic exchange. Originally the planning of this book came about as the successful outcome of our fourth annual conference organized as an international one, JAFEE 2000.Incorporat ing other international contributions related to our preceding conferences, this book has eventually turned out to be one of the most enterprising anthologies on evolu tionary economics ever published. Specifically, it contains excellent papers on such topics as streams of evolutionary economics, evolutionary nonlinear dynamics, experimental economics and evolution, multiagent systems and complexity, new frontiers for evolutionary economics, and economic heresies. In short, this book will provide a vivid and full-fledged picture of up-to-date evolutionary economics.

Evolutionary Economics and Chaos Theory

1994 Business & Economics
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Release : 1994
Genre : Business & Economics
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Book Synopsis Evolutionary Economics and Chaos Theory by : L. A. Leydesdorff

Download or read book Evolutionary Economics and Chaos Theory written by L. A. Leydesdorff. This book was released on 1994. Available in PDF, EPUB and Kindle. Book excerpt: Ensayo sobre las repercusiones que en la evolución económica tienen las innovaciones tecnológicas.

Nonlinear Dynamics in Economics

2012-12-06 Business & Economics
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Release : 2012-12-06
Genre : Business & Economics
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Book Rating : 217/5 ( reviews)

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Book Synopsis Nonlinear Dynamics in Economics by : Bärbel Finkenstädt

Download or read book Nonlinear Dynamics in Economics written by Bärbel Finkenstädt. This book was released on 2012-12-06. Available in PDF, EPUB and Kindle. Book excerpt: 1. 1 Introduction In economics, one often observes time series that exhibit different patterns of qualitative behavior, both regular and irregular, symmetric and asymmetric. There exist two different perspectives to explain this kind of behavior within the framework of a dynamical model. The traditional belief is that the time evolution of the series can be explained by a linear dynamic model that is exogenously disturbed by a stochastic process. In that case, the observed irregular behavior is explained by the influence of external random shocks which do not necessarily have an economic reason. A more recent theory has evolved in economics that attributes the patterns of change in economic time series to an underlying nonlinear structure, which means that fluctua tions can as well be caused endogenously by the influence of market forces, preference relations, or technological progress. One of the main reasons why nonlinear dynamic models are so interesting to economists is that they are able to produce a great variety of possible dynamic outcomes - from regular predictable behavior to the most complex irregular behavior - rich enough to meet the economists' objectives of modeling. The traditional linear models can only capture a limited number of possi ble dynamic phenomena, which are basically convergence to an equilibrium point, steady oscillations, and unbounded divergence. In any case, for a lin ear system one can write down exactly the solutions to a set of differential or difference equations and classify them.

Nonlinear Models for Economic Decision Processes

2010 Business & Economics
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Release : 2010
Genre : Business & Economics
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Book Rating : 270/5 ( reviews)

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Book Synopsis Nonlinear Models for Economic Decision Processes by : Ionut Purica

Download or read book Nonlinear Models for Economic Decision Processes written by Ionut Purica. This book was released on 2010. Available in PDF, EPUB and Kindle. Book excerpt: Using models, developed in one branch of science, to describe similar behaviors encountered in a different one, is the essence of a synergetic approach. A wide range of topics has been developed including Agent-based models, econophysics, socio-economic networks, information, bounded rationality and learning in economics, markets as complex adaptive systems evolutionary economics, multiscale analysis and modeling, nonlinear dynamics and econometrics, physics of risk, statistical and probabilistic methods in economics and finance. Complexity. This publication concentrates on process behavior of economic systems and building models that stem from Haken's, Prigogine's, Taylor's work as well as from nuclear physics models.

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