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 46
Página 3
... zero intelligence " agents interact in order to see what sorts of price and trading pat- terns emerge ; interestingly , patterns appear to be empirically sensible . Farmer's work suggests that a number of regularities in asset markets ...
... zero intelligence " agents interact in order to see what sorts of price and trading pat- terns emerge ; interestingly , patterns appear to be empirically sensible . Farmer's work suggests that a number of regularities in asset markets ...
Página 11
... fundamental rate may differ from the current quarter's rate , because we did not impose that consumers ' expectations of Nt + 1 must equal zero . TABLE 1 Dickey - Fuller and augmented Dickey - Fuller Christopher D. Carroll 11.
... fundamental rate may differ from the current quarter's rate , because we did not impose that consumers ' expectations of Nt + 1 must equal zero . TABLE 1 Dickey - Fuller and augmented Dickey - Fuller Christopher D. Carroll 11.
Página 12
... zero lags , the test is the original Dickey - Fuller test ; with multiple lags , the test is an Augmented Dickey Fuller test . In both cases a constant term is permitted in the regression equation . The sample is from 1959q3 to 2001q2 ...
... zero lags , the test is the original Dickey - Fuller test ; with multiple lags , the test is an Augmented Dickey Fuller test . In both cases a constant term is permitted in the regression equation . The sample is from 1959q3 to 2001q2 ...
Página 14
... inflation expectations Mt [ Tt , t + 4 ] is equal to a constant , ao . By definition the R2 is equal to zero ; the standard error of the estimate is 0.88 . The last column 14 The Epidemiology of Macroeconomic Expectations.
... inflation expectations Mt [ Tt , t + 4 ] is equal to a constant , ao . By definition the R2 is equal to zero ; the standard error of the estimate is 0.88 . The last column 14 The Epidemiology of Macroeconomic Expectations.
Página 15
... 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 form MtTt , t + 4 ] = a1St [ πt , t + 4 ] + ...
... 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 form MtTt , t + 4 ] = a1St [ πt , t + 4 ] + ...
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