The Economy as an Evolving Complex System IIILawrence Blume, Steven N. Durlauf Oxford University Press, 2006 - 377 páginas Derived from the 2001 Santa Fe Institute Conference, "The Economy as an Evolving Complex System III," represents scholarship from the leading figures in th area of economics and complexity. The subject, a perennial centerpiece of the SFI program of studies has gained a wide range of followers for its methods of employing empirical evidence in the development of analytical economic theories. Accordingly, the chapters in this volume addresses a wide variety of issues in the fields of economics and complexity, accessing eclectic techniques from many disciplines, provided that they shed light on the economic problem. Dedicated to Kenneth Arrow on his 80th birthday, this volume honors his many contributions to the Institute. SFI-style economics is regarded as having had an important impact in introducing a new approach to economic analysis. |
Contenido
Contents | 1 |
Social Learning and the Adoption of Knowledge | 31 |
Rationality and Selection in Asset Markets | 49 |
Derechos de autor | |
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The Economy As an Evolving Complex System, III: Current Perspectives and ... Lawrence E. Blume,Steven N. Durlauf Vista previa limitada - 2006 |
The Economy As an Evolving Complex System, III: Current Perspectives and ... Lawrence E. Blume,Steven N. Durlauf Vista previa limitada - 2005 |
The Economy As an Evolving Complex System, III: Current Perspectives and ... Lawrence E. Blume,Steven N. Durlauf Vista previa limitada - 2006 |
Términos y frases comunes
a₁ agents analysis analyze assume assumption average behavior beliefs Blume Brock and Durlauf choice condition consumption decisionmakers denote density depend depth profile diffusion dimensional analysis dynamics Econ economic effects empirical epistemic base equation equilibrium estimate Evolving Complex System example expected utility exponent figure fluctuations H. E. Stanley heterogeneity identified implies individual inflation expectations inflation rate innovation investment investors knowledge Lévy distribution limit order logit macroeconomic Mankiw and Reis Manski market order match multinomial multinomial logit Nash equilibrium neighborhood nondimensional norms outcomes parameters Pareto distribution Pareto wealth distribution payoff period player Plerou population power law price impact probability problem propositional knowledge public goods game punishment random rational expectations Santa Fe Institute scale simulated social interactions standard deviation statistical stochastic Stock strategy subjective expected utility technique Theorem theory tick tion unemployment uniqueness volatility zero