Economics: Complex Windows [electronic resource] /
Salzano, Massimo.editor.
Kirman, Alan P.editor.
This volume contains papers that provide an analysis of topics in the following areas: Agent Based Models, Non-linear Time Series Analysis, Financial Market Dynamics, Econo-physics, Deterministic Chaos, Macroeconomic Dynamics. Economics: Complex Windows, does not present contributions to the sterile debate as to the merits of the different grand, or potentially grand paradigms of economics. Rather it offers a balanced collection of methodological advances which can be applied to concrete economic problems. Starting with a presentation of the "complexity approach" to economics, it goes on to provide a collection of applications to areas such as the analysis of market imperfections, risk assessment, non-linear dynamics, forecasting and highly irregular fluctuations. The tools used help to provide a clearer understanding and a more accurate analysis of these areas of economics. They also highlight the gulf which exists between current economic theory and real economic practice. The basic idea is to encourage economic researchers to embrace a more open and pragmatic approach to economics rather than to reluctantly move in this direction as if it were somehow a betrayal of established dogma. We hope, in this way, to open up avenues which will lead to progress beyond the "holy trinity", (rationality, equilibrium and greed) of modern economics.
Description based upon print version of record.
Complexity and Emergence of Meaning: Toward a Semiophysics; Complexity, Pedagogy, and the Economics of Muddling Through; The Multiple Phase Theory of Macroeconomic Evolution; Why Economics Must Abandon its Theory of the Firm; Use of Recurrence Quantification Analysis in Economic Time Series; Quasilinear Aggregation Operators and Preference Functionals; Business Competition as a Self-organizing Process: Toward an Increasing Returns-Based Microeconomic Theory; Detecting Structural Changes in the Italian Stock Market through Complexity
Heterogeneity in General Equilibrium: The Battle of CoalitionsFirms' Size Distribution and Growth Rates as Determinants of Business Fluctuations; Dynamically Sustainable Economic Equilibria as Self-Organized Atomic Structures; Statistical Economics on Multi-Variable Layered Networks
Includes bibliographical references.
This volume contains papers that provide an analysis of topics in the following areas: Agent Based Models, Non-linear Time Series Analysis, Financial Market Dynamics, Econo-physics, Deterministic Chaos, Macroeconomic Dynamics. Economics: Complex Windows, does not present contributions to the sterile debate as to the merits of the different grand, or potentially grand paradigms of economics. Rather it offers a balanced collection of methodological advances which can be applied to concrete economic problems. Starting with a presentation of the "complexity approach" to economics, it goes on to provide a collection of applications to areas such as the analysis of market imperfections, risk assessment, non-linear dynamics, forecasting and highly irregular fluctuations. The tools used help to provide a clearer understanding and a more accurate analysis of these areas of economics. They also highlight the gulf which exists between current economic theory and real economic practice. The basic idea is to encourage economic researchers to embrace a more open and pragmatic approach to economics rather than to reluctantly move in this direction as if it were somehow a betrayal of established dogma. We hope, in this way, to open up avenues which will lead to progress beyond the "holy trinity", (rationality, equilibrium and greed) of modern economics.
Economic theory.
Macroeconomics.
Microeconomics.
Economic policy.
Finance.
Public finance.
Economic Theory/Quantitative Economics/Mathematical Methods.
Macroeconomics/Monetary Economics//Financial Economics.
Microeconomics.
Economic Policy.
Finance, general.
Public Economics.