Zambelli / George Nonlinearity, Complexity and Randomness in Economics

Towards Algorithmic Foundations for Economics
1. Auflage 2013
ISBN: 978-1-118-30042-8
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 256 Seiten, E-Book

Reihe: Surveys of Recent Research in Economics

Nonlinearity, Complexity and Randomness in Economicspresents a variety of papers by leading economists, scientists, andphilosophers who focus on different aspects of nonlinearity,complexity and randomness, and their implications for economics. Atheme of the book is that economics should be based on algorithmic,computable mathematical foundations.
* Features an interdisciplinary collection of papers byeconomists, scientists, and philosophers
* Presents new approaches to macroeconomic modelling, agent-basedmodelling, financial markets, and emergent complexity
* Reveals how economics today must be based on algorithmic,computable mathematical foundations

Autoren/Hrsg.

Zambelli, Stefano

George, Donald A. R.

Inhaltsverzeichnis

Notes on Contributors vii
1. Introduction 1
Stefano Zambelli
2. Towards an Algorithmic Revolution in Economic Theory7
K. Vela Velupillai
3. An Algorithmic Information-Theoretic Approach to theBehaviour of Financial Markets 37
Hector Zenil and Jean-Paul Delahaye
4. Complexity and Randomness in Mathematics: PhilosophicalReflections on the Relevance for Economic Modelling 69
Sundar Sarukkai
5. Behavioural Complexity 85
Sami Al-Suwailem
6. Bounded Rationality and the Emergence of Simplicity AmidstComplexity 111
Cassey Lee
7. Emergent Complexity in Agent-Based Computational Economics131
Shu-Heng Chen and Shu G.Wang
8. Non-Linear Dynamics, Complexity and Randomness: AlgorithmicFoundations 151
K. Vela Velupillai
9. Stock-Flow Interactions, Disequilibrium Macroeconomics andthe Role of Economic Policy 173
Toichiro Asada, Carl Chiarella, Peter Flaschel, Tarik Mouakil,Christian Proa~no andWilli Semmler
10. Equilibrium Versus Market Efficiency: Randomness versusComplexity in Finance Markets 203
Joseph L. McCauley
11. Flexible Accelerator Economic Systems as Coupled Oscillators211
Stefano Zambelli
12. Shifting Sands: Non-Linearity, Complexity and Randomness inEconomics 237
Donald A.R. George
Index 241

Über Autor(innen)

Stefano Zambelli is Professor of Political Economy at theDepartment of Economics, University of Trento, Italy. He is also afounding member of the Algorithmic Social Sciences Research Unit(ASSRU) at University of Trento.
Donald A.R. George is Senior Lecturer in Economics at theUniversity of Edinburgh. He has published extensively on theeconomics of self-management, economic dynamics, and the economicsof product reliability, and is joint founding Editor of theJournal of Economic Surveys.