The Economy As an Evolving Complex System, III: Current Perspectives and Future DirectionsLawrence E. Blume, Steven N. Durlauf Oxford University Press, 2005 M10 20 - 392 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. |
Dentro del libro
Resultados 1-5 de 63
Página 11
... average , be closer to the rational forecast ; see below for more discussion of possible variation in A across population groups ) . Of course , real newspaper articles do not contain quarter - by - quarter forecasts of the inflation ...
... average , be closer to the rational forecast ; see below for more discussion of possible variation in A across population groups ) . Of course , real newspaper articles do not contain quarter - by - quarter forecasts of the inflation ...
Página 13
... average between the current newspaper forecast and last period's mean measured inflation expectations . This equation is , therefore , directly estimable , assuming an appropriate proxy for newspaper expectations can be constructed.5 ...
... average between the current newspaper forecast and last period's mean measured inflation expectations . This equation is , therefore , directly estimable , assuming an appropriate proxy for newspaper expectations can be constructed.5 ...
Página 15
... average value of the expectations index is zero , ao = 0 , which is rejected at a very high level of statistical significance , as indicated by a p - value of zero . Equation 1 in the table reflects the estimation of an equation of the ...
... average value of the expectations index is zero , ao = 0 , which is rejected at a very high level of statistical significance , as indicated by a p - value of zero . Equation 1 in the table reflects the estimation of an equation of the ...
Página 18
... average value in the population , plus a term ( in big parentheses in eq . ( 17 ) ) that depends on the joint distribution of X's and the deviation by group of the difference between the previous period's rational forecast and the ...
... average value in the population , plus a term ( in big parentheses in eq . ( 17 ) ) that depends on the joint distribution of X's and the deviation by group of the difference between the previous period's rational forecast and the ...
Página 19
... average value 0.25 in the population . Interestingly , however , one consequence of the heterogeneity in A is that there is now a very large amount of serial correlation in the residuals of the equation ; the Durbin- Watson statistic ...
... average value 0.25 in the population . Interestingly , however , one consequence of the heterogeneity in A is that there is now a very large amount of serial correlation in the residuals of the equation ; the Durbin- Watson statistic ...
Contenido
1 | |
5 | |
31 | |
Rationality and Selection in Asset Markets | 49 |
Statistical Physics and Economic Fluctuations | 67 |
Market Efficiency the Pareto Wealth Distribution and the Lévy Distribution of Stock Returns | 101 |
A Random Order Placement Model of Price Formation in the Continuous Double Auction | 133 |
Multinomial Choice with Social Interactions | 175 |
Heterogeneity and Uniqueness in Interaction Games | 207 |
Perspectives on the Economy as an Evolving Complex System | 243 |
The Diffusion of Innovations in Social Networks | 267 |
Dynamic Properties of Local Interaction Models | 283 |
The View from Economic History | 309 |
Prosocial Emotions | 339 |
Index | 367 |
Otras ediciones - Ver todas
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 - 2006 |
The Economy as an Evolving Complex System III Lawrence Blume,Steven N. Durlauf Vista de fragmentos - 2006 |
Términos y frases comunes
agents analysis analyze assume assumption asymptotic average behavior beliefs Blume Brock and Durlauf chooses action condition consumption contribution correlation decisionmakers defined denote density depend depth profile diffusion dimensional analysis dynamics Econ economic effects empirical epistemic base equation equilibrium estimate evolutionary Evolving Complex System example exponent figure fluctuations forecast given global games H. E. Stanley heterogeneity identified implies individual inflation expectations inflation rate innovation investment investors knowledge Lévy distribution limit order male market order match multinomial logit Nash equilibrium neighborhood nondimensional norms order placement outcome parameters Pareto distribution Pareto wealth distribution payoff player Plerou population power law problem propositional knowledge public goods game punishment random rational expectations Santa Fe Institute scale shame simulations social interactions standard deviation statistical stochastic strategy subjective expected utility technique Theorem theory tick tion unemployment uniqueness utility function volatility zero