The Economy As an Evolving Complex System, III: Current Perspectives and Future Directions

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Lawrence 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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Introduction
1
The Epidemiology of Macrocconomic Expectations
5
Social Learning and the Adoption of Knowledge
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
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