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Complexity In Economics Urban Economic Models Evolutionary Economics And Ecologic Economic Systems
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Book Synopsis Complexity in Economics: Urban-economic models, evolutionary economics, and ecologic-economic systems by : John Barkley Rosser
Download or read book Complexity in Economics: Urban-economic models, evolutionary economics, and ecologic-economic systems written by John Barkley Rosser and published by . This book was released on 2004 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Complex dynamics in economics arise from nonlinear systems that do not converge to a fixed point, a limit cycle, or explode or implode exponentially due to endogenous factors. They arise from cybernetics, catastrophe theory, chaos theory, or the varieties of modern complexity theory, including models with heterogeneous, interacting agents. This collection presents the most important papers in the area of complexity in economics.
Book Synopsis Foundations and Applications of Complexity Economics by : J. Barkley Rosser, Jr.
Download or read book Foundations and Applications of Complexity Economics written by J. Barkley Rosser, Jr. and published by Springer Nature. This book was released on 2021-05-21 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a survey of the aspects of economic complexity, with a focus on foundational, interdisciplinary ideas. The long-awaited follow up to his 2011 volume Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems: From Catastrophe to Chaos and Beyond, this volume draws together the threads of Rosser’s earlier work on complexity theory and its wide applications in economics and an expanded list of related disciplines. The book begins with a full account of the broader categories of complexity in economics--dynamic, computational, hierarchical, and structural--before shifting to more detailed analysis. The next two chapters address problems associated with computational complexity, especially those of computability, and discuss the Godel Incompleteness Theorem with a focus on reflexivity. The middle chapters discuss the relationship between entropy, econophysics, evolution, and economic complexity, respectively, with applications in urban and regional dynamics, ecological economics, general equilibrium theory, as well as financial market dynamics. The final chapter works to bring together these themes into a broader framework and expose some of the limits concerning analysis of deeper foundational issues. With applications in all disciplines characterized by interconnected nonlinear adaptive systems, this book is appropriate for graduate students, professors and practitioners in economics and related disciplines such as regional science, mathematics, physics, biology, environmental sciences, philosophy, and psychology.
Book Synopsis Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems by : J. Barkley Rosser
Download or read book Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems written by J. Barkley Rosser and published by Springer Science & Business Media. This book was released on 2011-06-22 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the middle chapters from the first edition of J. Barkley Rosser's seminal work, From Catastrophe to Chaos, this book presents an unusual perspective on economics and economic analysis. Current economic theory largely depends upon assuming that the world is fundamentally continuous. However, an increasing amount of economic research has been done using approaches that allow for discontinuities such as catastrophe theory, chaos theory, synergetics, and fractal geometry. The spread of such approaches across a variety of disciplines of thought has constituted a virtual intellectual revolution in recent years. This book reviews the applications of these approaches in various subdisciplines of economics and draws upon past economic thinkers to develop an integrated view of economics as a whole from the perspective of inherent discontinuity.
Book Synopsis The Economy As An Evolving Complex System II by : W. Brian Arthur
Download or read book The Economy As An Evolving Complex System II written by W. Brian Arthur and published by CRC Press. This book was released on 2018-05-04 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new view of the economy as an evolving, complex system has been pioneered at the Santa Fe Institute over the last ten years, This volume is a collection of articles that shape and define this view?a view of the economy as emerging from the interactions of individual agents whose behavior constantly evolves, whose strategies and actions are always adapting.The traditional framework in economics portrays activity within an equilibrium steady state. The interacting agents in the economy are typically homogenous, solve well-defined problems using perfect rationality, and act within given legal and social structures. The complexity approach, by contrast, sees economic activity as continually changing?continually in process. The interacting agents are typically heterogeneous, they must cognitively interpret the problems they face, and together they create the structures?markets, legal and social institutions, price patters, expectations?to which they individually react. Such structures may never settle down. Agents may forever adapt and explore and evolve their behaviors within structures that continually emerge and change and disappear?structures these behaviors co-create. This complexity approach does not replace the equilibrium one?it complements it.The papers here collected originated at a recent conference at the Santa Fe Institute, which was called to follow up the well-known 1987 SFI conference organized by Philip Anderson, Kenneth Arrow, and David Pines. They survey the new study of complexity and the economy. They apply this approach to real economic problems and they show the extent to which the initial vision of the 1987 conference has come to fruition.
Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson
Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Book Synopsis The Atlas of Economic Complexity by : Ricardo Hausmann
Download or read book The Atlas of Economic Complexity written by Ricardo Hausmann and published by MIT Press. This book was released on 2014-01-17 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.
Download or read book Eco-Evolutionary Dynamics written by and published by Academic Press. This book was released on 2014-08-12 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theme of this volume is to discuss Eco-evolutionary Dynamics. - Updates and informs the reader on the latest research findings - Written by leading experts in the field - Highlights areas for future investigation
Book Synopsis Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems by : Cars Hommes
Download or read book Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems written by Cars Hommes and published by Cambridge University Press. This book was released on 2013-01-24 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recognising that the economy is a complex system with boundedly rational interacting agents, applies complexity modelling to economics and finance.
Book Synopsis The Evolutionary Foundations of Economics by : Kurt Dopfer
Download or read book The Evolutionary Foundations of Economics written by Kurt Dopfer and published by Cambridge University Press. This book was released on 2005-05-23 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely recognised that mainstream economics has failed to translate micro consistently into macro economics and to provide endogenous explanations for the continual changes in the economic system. Since the early 1980s, a growing number of economists have been trying to provide answers to these two key questions by applying an evolutionary approach. This new departure has yielded a rich literature with enormous variety, but the unifying principles connecting the various ideas and views presented are, as yet, not apparent. This 2005 volume brings together fifteen original articles from scholars - each of whom has made a significant contribution to the field - in their common effort to reconstruct economics as an evolutionary science. Using meso economics as an analytical entity to bridge micro and macro economics as well as static and dynamic realms, a unified economic theory emerges.
Book Synopsis Varieties of Capitalism by : Peter A. Hall
Download or read book Varieties of Capitalism written by Peter A. Hall and published by Oxford University Press. This book was released on 2001 with total page 557 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.
Book Synopsis The Economics of Complex Spatial Systems by : A. Reggiani
Download or read book The Economics of Complex Spatial Systems written by A. Reggiani and published by Elsevier. This book was released on 1998-05-05 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that complexity theory offers new departures for (spatial-) economic modelling. It offers a broad overview of recent advances in non-linear dynamics (catastrophe theory, chaos theory, evolutionary theory and so forth) and illustrates the relevance of this new paradigm on the basis of several illustrations in the area of space-economy. The empirical limitations - inherent in the use of non-linear dynamic systems approaches - are also addressed. Next, the application potential of biocomputing (in particular, neural networks and evolutionary algorithms) is stressed, while various empirical model results are presented. The book concludes with an agenda for further research.
Book Synopsis Social Fairness and Economics by : Lance Taylor
Download or read book Social Fairness and Economics written by Lance Taylor and published by Routledge. This book was released on 2013-02-11 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley’s work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are intellectual biographies that contextualize and identify Foley’s contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises. The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.
Book Synopsis Evolutionary Economic Geography by : Miroslav Jovanovic
Download or read book Evolutionary Economic Geography written by Miroslav Jovanovic and published by Routledge. This book was released on 2008-10-07 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to provide a guided tour through the theoretical foundations of spatial locations of firms and industries in an evolutionary economic framework. It addresses the issues of how a location of business in geographical space is selected and where economic activity may (re)locate in the future. The analysis is in the context
Book Synopsis The Evolution of Economic Systems by : Barry Stewart Clark
Download or read book The Evolution of Economic Systems written by Barry Stewart Clark and published by Oxford University Press, USA. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most current text of its kind, The Evolution of Economic Systems: Varieties of Capitalism in the Global Economy explores the effects of politics and culture on the nature of national economic systems. Author Barry Clark distills recent academic work in such areas as comparative political economy, varieties of capitalism, new and old institutional economics, new economic sociology, and social systems of production, presenting the material in a conversational manner that makes it accessible for undergraduate students.
Book Synopsis Seeking Sustainability in an Age of Complexity by : Graham Harris
Download or read book Seeking Sustainability in an Age of Complexity written by Graham Harris and published by Cambridge University Press. This book was released on 2007-06-14 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seeking Sustainability in an Age of Complexity explains the difficulties of sustainability and why 'collapse' can occur. In the last twenty years the theory of complexity has been developed - complex systems science (CSS) speaks to natural systems and particularly to ecological, social and economic systems and their interaction. Due to the growing concern over the huge changes occurring in the global environment, such as climate change, deforestation, habitat fragmentation and loss of biodiversity, Graham Harris sets out what has been learned in an attempt to understand the implications of these changes and suggests ways to move forward. This book discusses a number of emerging tools for the management of 'unruly' complexity which facilitate stronger regional dialogues about knowledge and values, which will be of interest to ecologists, sociologists, economists, natural resource managers and scientists in State and local governments and those involved in water and landscape management.
Book Synopsis Applied Evolutionary Economics and the Knowledge-based Economy by : Andreas Pyka
Download or read book Applied Evolutionary Economics and the Knowledge-based Economy written by Andreas Pyka and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on knowledge-based economies and attempts to analyze dynamic innovation driven processes within those economies. It shows that evolutionary economics, and in particular the strand of applied industry and innovation studies often called Neo-Schumpeterian economics, has left the nursery of new academic approaches and is able to offer important insights for the understanding of socio-economic processes of change and development having a strong impact on economic reality all over the world. The contributions are summarized under four major sections knowledge and cognition, studies of knowledge-based industries, the geographical dimension of knowledge-based economies and measuring and modelling for knowledge-based economies and give a broad overview of the prolific research being undertaken in applied evolutionary economics. Students will find this book an invaluable resource for future research, as will researchers seeking an introduction to new methods and perspectives of analysis.
Book Synopsis Modelling with the Master Equation by : Günter Haag
Download or read book Modelling with the Master Equation written by Günter Haag and published by Springer. This book was released on 2017-07-31 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the theory and practical applications of the Master equation approach, which provides a powerful general framework for model building in a variety of disciplines. The aim of the book is to not only highlight different mathematical solution methods, but also reveal their potential by means of practical examples. Part I of the book, which can be used as a toolbox, introduces selected statistical fundamentals and solution methods for the Master equation. In Part II and Part III, the Master equation approach is applied to important applications in the natural and social sciences. The case studies presented mainly hail from the social sciences, including urban and regional dynamics, population dynamics, dynamic decision theory, opinion formation and traffic dynamics; however, some applications from physics and chemistry are treated as well, underlining the interdisciplinary modelling potential of the Master equation approach. Drawing upon the author’s extensive teaching and research experience and consulting work, the book offers a valuable guide for researchers, graduate students and professionals alike.
