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 50
Página 14
... correlation using a Newey - West procedure ( a Bartlett kernel ) with four lags . Results are not sensitive to the choice of lags . to the object required by the theory . ( For details of index construction , see Curtin [ 10 ] ...
... correlation using a Newey - West procedure ( a Bartlett kernel ) with four lags . Results are not sensitive to the choice of lags . to the object required by the theory . ( For details of index construction , see Curtin [ 10 ] ...
Página 18
... correlations of Nt , Mt - 1 and Mt with the last term in eq . ( 17 ) , ( ( A1 ( M1 , t - 1 - Mt - 1 ) + 2 ( M2 , t - 1 - Mt - 1 ) ) / 2 ) . There is no analyt- ical way to determine the magnitude or nature of the bias without making a ...
... correlations of Nt , Mt - 1 and Mt with the last term in eq . ( 17 ) , ( ( A1 ( M1 , t - 1 - Mt - 1 ) + 2 ( M2 , t - 1 - Mt - 1 ) ) / 2 ) . There is no analyt- ical way to determine the magnitude or nature of the bias without making a ...
Página 19
... correlation in the residuals of the equation ; the Durbin- Watson statistic indicates that this serial correlation is positive and a Q test shows it to be highly statistically significant . Heterogeneous A's induce serial correlation ...
... correlation in the residuals of the equation ; the Durbin- Watson statistic indicates that this serial correlation is positive and a Q test shows it to be highly statistically significant . Heterogeneous A's induce serial correlation ...
Página 20
... correlation that emerges from this simu- lation to the low serial correlation that emerged in the empirical estimation in table 2 suggests that heterogeneity in A is probably not as great as the assumed uniform distribution between 0.0 ...
... correlation that emerges from this simu- lation to the low serial correlation that emerged in the empirical estimation in table 2 suggests that heterogeneity in A is probably not as great as the assumed uniform distribution between 0.0 ...
Página 24
... correlation using a Newey - West procedure ( a Bartlett kernel ) with four lags . Results are not sensitive to the choice of lags . rather than by direct contact with news reports . For the purposes of this chapter the most important ...
... correlation using a Newey - West procedure ( a Bartlett kernel ) with four lags . Results are not sensitive to the choice of lags . rather than by direct contact with news reports . For the purposes of this chapter the most important ...
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