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. |
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Página 3
... empirical work has placed particular emphasis on the identi- fication of various scaling laws in financial data . Interest in scaling laws derives from their ubiquity in interacting physical systems , which has rendered physicists well ...
... empirical work has placed particular emphasis on the identi- fication of various scaling laws in financial data . Interest in scaling laws derives from their ubiquity in interacting physical systems , which has rendered physicists well ...
Página 4
... empirical question is , what is the expected length of time for a network to " switch over " from the old behavior to the new ? Young uncovers conditions on network topology the decision process that , surprisingly , bound the expected ...
... empirical question is , what is the expected length of time for a network to " switch over " from the old behavior to the new ? Young uncovers conditions on network topology the decision process that , surprisingly , bound the expected ...
Página 6
... empirical work that was part of an earlier draft of this chapter . 1 INTRODUCTION Economists have long understood that macroeconomic outcomes depend criti- cally upon agents ' expectations . Keynes [ 13 ] believed that economies could ...
... empirical work that was part of an earlier draft of this chapter . 1 INTRODUCTION Economists have long understood that macroeconomic outcomes depend criti- cally upon agents ' expectations . Keynes [ 13 ] believed that economies could ...
Página 7
... empirical macro models perform better in a variety of dimensions when survey- based inflation expectations are used in place of constructed model - consistent rational expectations . Mankiw and Reis [ 16 , 17 ] obtain similar findings ...
... empirical macro models perform better in a variety of dimensions when survey- based inflation expectations are used in place of constructed model - consistent rational expectations . Mankiw and Reis [ 16 , 17 ] obtain similar findings ...
Página 8
... empirical results than is the baseline model . The chapter concludes with some general lessons and ideas for future research . 2 THE EPIDEMIOLOGY OF EXPECTATIONS 2.1 THE SIR MODEL Epidemiologists have developed a rich set of models for ...
... empirical results than is the baseline model . The chapter concludes with some general lessons and ideas for future research . 2 THE EPIDEMIOLOGY OF EXPECTATIONS 2.1 THE SIR MODEL Epidemiologists have developed a rich set of models for ...
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