Statistical Mechanics Approaches To Socioeconomic Behavior

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The Economy As An Evolving Complex System II

Author : W. Brian Arthur
Publisher : CRC Press
ISBN 13 : 0429976267
Total Pages : 437 pages
Book Rating : 4.4/5 (299 download)

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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.

Mathematical Modeling of Collective Behavior in Socio-Economic and Life Sciences

Author : Giovanni Naldi
Publisher : Springer Science & Business Media
ISBN 13 : 0817649468
Total Pages : 437 pages
Book Rating : 4.8/5 (176 download)

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Book Synopsis Mathematical Modeling of Collective Behavior in Socio-Economic and Life Sciences by : Giovanni Naldi

Download or read book Mathematical Modeling of Collective Behavior in Socio-Economic and Life Sciences written by Giovanni Naldi and published by Springer Science & Business Media. This book was released on 2010-08-12 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using examples from finance and modern warfare to the flocking of birds and the swarming of bacteria, the collected research in this volume demonstrates the common methodological approaches and tools for modeling and simulating collective behavior. The topics presented point toward new and challenging frontiers of applied mathematics, making the volume a useful reference text for applied mathematicians, physicists, biologists, and economists involved in the modeling of socio-economic systems.

Reconstruction of Macroeconomics: Methods of Statistical Physics, and Keynes' Principle of Effective Demand

Author : Hiroshi Yoshikawa
Publisher : Springer Nature
ISBN 13 : 9811952647
Total Pages : 247 pages
Book Rating : 4.8/5 (119 download)

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Book Synopsis Reconstruction of Macroeconomics: Methods of Statistical Physics, and Keynes' Principle of Effective Demand by : Hiroshi Yoshikawa

Download or read book Reconstruction of Macroeconomics: Methods of Statistical Physics, and Keynes' Principle of Effective Demand written by Hiroshi Yoshikawa and published by Springer Nature. This book was released on 2022-10-29 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains how standard micro-founded macroeconomics is misguided and proposes an alternative method based on statistical physics. The Great Recession following the bankruptcy of Lehman Brothers in September 2015 amply demonstrated that mainstream micro-founded macroeconomics was in trouble. The new approach advanced in this book reasonably explains important macro-problems such as employment, business cycles, growth, and inflation/deflation. The key concept is demand failures, which modern micro-founded macroeconomics has ignored. “It (Chapter 3) captures analytically a good part of the intuition that underlies the Keynesian economics of people like Tobin and me.” Robert Solow, Emeritus Institute Professor of Economics, Massachusetts Institute of Technology, Nobel Laureate in Economics, 1987 “Professor Hiroshi Yoshikawa provides a unique synthesis of statistical physics and macro-economic theory in order to confront the dismal failure in economics and in finance to understand how an economy or a financial market works, given the heterogeneous decision making of many different individual interacting actors. Economics has failed in this regard with the naive and often misleading concept of “representative agents.” The author presents many insights on the historical development, concepts, and errors made by the most illustrious economists in the past. This book should be essential readings for any economics students as well as academic researchers and policy makers, who should learn to bring back good-sense thinking in their impactful decisions.” Didier Sornette, Professor on the Chair of Entrepreneurial Risks at the Swiss Federal Institute of Technology Zurich (ETH Zurich)

Handbook of Social Economics SET: 1A, 1B

Author : Jess Benhabib
Publisher : Newnes
ISBN 13 : 0444537139
Total Pages : 1509 pages
Book Rating : 4.4/5 (445 download)

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Book Synopsis Handbook of Social Economics SET: 1A, 1B by : Jess Benhabib

Download or read book Handbook of Social Economics SET: 1A, 1B written by Jess Benhabib and published by Newnes. This book was released on 2011 with total page 1509 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can economists define and measure social preferences and interactions? Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Identifying economic strains in activities such as learning, group formation, discrimination, and the creation of peer dynamics, they demonstrate how they tease out social preferences from the influences of culture, familial beliefs, religion, and other forces. Advances our understanding about quantifying social interactions and the effects of culture Summarizes research on theoretical and applied economic analyses of social preferences Explores the recent willingness among economists to consider new arguments in the utility function

Handbook of Social Economics

Author : Jess Benhabib
Publisher : Elsevier
ISBN 13 : 0444531874
Total Pages : 940 pages
Book Rating : 4.4/5 (445 download)

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Book Synopsis Handbook of Social Economics by : Jess Benhabib

Download or read book Handbook of Social Economics written by Jess Benhabib and published by Elsevier. This book was released on 2010-11-12 with total page 940 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can economists define and measure social preferences and interactions? Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Identifying economic strains in activities such as learning, group formation, discrimination, and the creation of peer dynamics, they demonstrate how they tease out social preferences from the influences of culture, familial beliefs, religion, and other forces. Advances our understanding about quantifying social interactions and the effects of culture Summarizes research on theoretical and applied economic analyses of social preferences Explores the recent willingness among economists to consider new arguments in the utility function Matthew O Jackson has contributed to Handbooks in Economics: Social Economics Set as an editor. Matthew O. Jackson is the William D. Eberle Professor of Economics at Stanford University

Handbook of Econometrics

Author : J.J. Heckman
Publisher : Elsevier
ISBN 13 : 0080524796
Total Pages : 737 pages
Book Rating : 4.0/5 (85 download)

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Book Synopsis Handbook of Econometrics by : J.J. Heckman

Download or read book Handbook of Econometrics written by J.J. Heckman and published by Elsevier. This book was released on 2001-11-22 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook is a definitive reference source and teaching aid for econometricians. It examines models, estimation theory, data analysis and field applications in econometrics. Comprehensive surveys, written by experts, discuss recent developments at a level suitable for professional use by economists, econometricians, statisticians, and in advanced graduate econometrics courses. For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier.nl/locate/hes

Handbook of Computational Economics

Author : Leigh Tesfatsion
Publisher : Elsevier
ISBN 13 : 0080459870
Total Pages : 905 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Handbook of Computational Economics by : Leigh Tesfatsion

Download or read book Handbook of Computational Economics written by Leigh Tesfatsion and published by Elsevier. This book was released on 2006-05-15 with total page 905 pages. Available in PDF, EPUB and Kindle. Book excerpt: The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues.*Every volume contains contributions from leading researchers*Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys

Critical Political Economy

Author : Christian Arnsperger
Publisher : Routledge
ISBN 13 : 1134064578
Total Pages : 431 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Critical Political Economy by : Christian Arnsperger

Download or read book Critical Political Economy written by Christian Arnsperger and published by Routledge. This book was released on 2007-12-13 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book asks how a more liberating economics could be constructed and taught. It suggests that if economists today are serious about emancipation and empowerment, they will have to radically change their conception about what it means for a citizen to act rationally in a complex society.Arnsperger emphasises that current economics neglects an imp

Prelude to Political Economy

Author : Kaushik Basu
Publisher : Oxford University Press
ISBN 13 : 0191522740
Total Pages : 305 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Prelude to Political Economy by : Kaushik Basu

Download or read book Prelude to Political Economy written by Kaushik Basu and published by Oxford University Press. This book was released on 2000-09-28 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream economics was founded on many strong assumptions. Institutions and politics were treated as irrelevant, government as exogenous, social norms as epiphenomena. As an initial gambit this was fine. But as the horizons of economic inquiry have broadened, these assumptions have become hindrances rather than aids. If we want to understand why some economies succeed and some fail, why some governments are effective and others not, why some communities prosper while others stagnate, it is essential to view economics as embedded in politics and society. Prelude to Political Economy is a study of this embeddedness; it argues for an 'inclusive' approach to institutions and the state. Modern economics recognizes that individuals' pursuit of their own selfish ends can result in socially suboptimal outcomes - the Prisoner's Dilemma being the stark example. It has been suggested that what we need in such an eventuality is 'third-party' intervention, which can take the form of imposing punishment on players. Kaushik Basu objects to this method of wishing third parties out of thin air. He argues that if a third party that could impose its will on others were available, then it should have been modeled as a player to start with. The adoption of such an inclusive approach has implications for our conception of the state and the law. It means that the law cannot be construed as a factor that changes the game that citizens play. It is instead simply a set of beliefs of citizens; and, as such, it is similar to social norms. What the law does for an economy, so can social norms. The book discusses how the nature of policy advice and our conception of state power are affected by this altered view of the state and the law. As corollaries, the book addresses a variety of important social and philosophical questions, such as whether the state should guarantee freedom of speech, whether determinism is compatible with free will, and whether the free market can lead to coercion.

The New Palgrave Dictionary of Economics

Author :
Publisher : Springer
ISBN 13 : 1349588024
Total Pages : 7493 pages
Book Rating : 4.3/5 (495 download)

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Book Synopsis The New Palgrave Dictionary of Economics by :

Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.

Handbook of Regional and Urban Economics

Author : V. Henderson
Publisher : Elsevier
ISBN 13 : 0080495125
Total Pages : 1081 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Handbook of Regional and Urban Economics by : V. Henderson

Download or read book Handbook of Regional and Urban Economics written by V. Henderson and published by Elsevier. This book was released on 2004-07-21 with total page 1081 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new Handbook of Regional and Urban Economics: Cities and Geography reviews, synthesizes and extends the key developments in urban and regional economics and their strong connection to other recent developments in modern economics. Of particular interest is the development of the new economic geography and its incorporation along with innovations in industrial organization, endogenous growth, network theory and applied econometrics into urban and regional economics. The chapters cover theoretical developments concerning the forces of agglomeration, the nature of neighborhoods and human capital externalities, the foundations of systems of cities, the development of local political institutions, regional agglomerations and regional growth. Such massive progress in understanding the theory behind urban and regional phenomenon is consistent with on-going progress in the field since the late 1960's. What is unprecedented are the developments on the empirical side: the development of a wide body of knowledge concerning the nature of urban externalities, city size distributions, urban sprawl, urban and regional trade, and regional convergence, as well as a body of knowledge on specific regions of the world—Europe, Asia and North America, both current and historical. The Handbook is a key reference piece for anyone wishing to understand the developments in the field.

Complexities of Production and Interacting Human Behaviour

Author : Yuji Aruka
Publisher : Springer Science & Business Media
ISBN 13 : 3790826189
Total Pages : 278 pages
Book Rating : 4.7/5 (98 download)

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Book Synopsis Complexities of Production and Interacting Human Behaviour by : Yuji Aruka

Download or read book Complexities of Production and Interacting Human Behaviour written by Yuji Aruka and published by Springer Science & Business Media. This book was released on 2011-03-29 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the real world is rapidly becoming more and more complicated, economists need to venture beyond the boundaries of mainstream economics and integrate philosophical thought and complexity into their analytical frameworks. In this context, this volume brings together papers on economic theory and its related issues, exploring complex production systems and heterogeneously interacting human behavior. The author challenges economists to integrate economic theory and moral science anew by referring to evolutionary economics and socio-econophysics. The three parts of the book focus on the complexities of production and social interaction, the moral science of heterogeneous economic interaction, and the Avatamsaka’s dilemma of the two-person game with only positive spillovers.

Foundations and Applications of Complexity Economics

Author : J. Barkley Rosser, Jr.
Publisher : Springer Nature
ISBN 13 : 3030706680
Total Pages : 174 pages
Book Rating : 4.0/5 (37 download)

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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.

Individual Strategy and Social Structure

Author : H. Peyton Young
Publisher : Princeton University Press
ISBN 13 : 0691214255
Total Pages : 208 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Individual Strategy and Social Structure by : H. Peyton Young

Download or read book Individual Strategy and Social Structure written by H. Peyton Young and published by Princeton University Press. This book was released on 2020-06-16 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Neoclassical economics as-sumes that people are highly rational and can reason their way through even the most complex economic problems. In Individual Strategy and Social Structure, Peyton Young argues for a more realistic view in which people have a limited understanding of their environment, are sometimes short-sighted, and occasionally act in perverse ways. He shows how the cumulative experiences of many such individuals coalesce over time into customs, norms, and institutions that govern economic and social life. He develops a theory that predicts how such institutions evolve and characterizes their welfare properties. The ideas are illustrated through a variety of examples, including patterns of residential segregation, rules of the road, claims on property, forms of economic contracts, and norms of equity. The book relies on new results in evolutionary game theory and stochastic dynamical systems theory, many of them originated by the author. It can serve as an introductory text, or be read on its own as a contribution to the study of economic and social institutions.

Every Thing Must Go

Author : James Ladyman
Publisher : Oxford University Press on Demand
ISBN 13 : 0199276196
Total Pages : 359 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis Every Thing Must Go by : James Ladyman

Download or read book Every Thing Must Go written by James Ladyman and published by Oxford University Press on Demand. This book was released on 2007-07-05 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every Thing Must Go argues that the only kind of metaphysics that can contribute to objective knowledge is one based specifically on contemporary science as it really is, and not on philosophers' a priori intuitions, common sense, or simplifications of science. In addition to showing how recent metaphysics has drifted away from connection with all other serious scholarly inquiry as a result of not heeding this restriction, they demonstrate how to build a metaphysicscompatible with current fundamental physics ('ontic structural realism'), which, when combined with their metaphysics of the special sciences ('rainforest realism'), can be used to unify physics with the other sciences without reducing these sciences to physics itself. Taking science metaphysically seriously,Ladyman and Ross argue, means that metaphysicians must abandon the picture of the world as composed of self-subsistent individual objects, and the paradigm of causation as the collision of such objects.Everything Must Go also assesses the role of information theory and complex systems theory in attempts to explain the relationship between the special sciences and physics, treading a middle road between the grand synthesis of thermodynamics and information, and eliminativism about information. The consequences of the author's metaphysical theory for central issues in the philosophy of science are explored, including the implications for the realism vs. empiricism debate, the role ofcausation in scientific explanations, the nature of causation and laws, the status of abstract and virtual objects, and the objective reality of natural kinds.

Monthly Labor Review

Author :
Publisher :
ISBN 13 :
Total Pages : 624 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Monthly Labor Review by :

Download or read book Monthly Labor Review written by and published by . This book was released on 1997 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.

From Catastrophe to Chaos: A General Theory of Economic Discontinuities

Author : J. Barkley Rosser
Publisher : Springer Science & Business Media
ISBN 13 : 9401716137
Total Pages : 313 pages
Book Rating : 4.4/5 (17 download)

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Book Synopsis From Catastrophe to Chaos: A General Theory of Economic Discontinuities by : J. Barkley Rosser

Download or read book From Catastrophe to Chaos: A General Theory of Economic Discontinuities written by J. Barkley Rosser and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Catastrophe to Chaos: A General Theory of Economic Discontinuities presents and 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.