The Economy As an Evolving Complex System, III Current Perspectives and Future Directions

by Blume, Lawrence E.; Durlauf, Steven N.

• ISBN13: 9780195162592
• ISBN10: 0195162595
• Format: Paperback
• Copyright: 2005-10-20
• Publisher: Oxford University Press

Summary

Much of the original motivation for the SFI Economics Program revolved around the belief that economic research could benefit from an injection of new mathematical models and new perspectives on human behavior. Since then, we have found that the SFI approach has greatly enriched economic theory.

Table of Contents

Introduction
Lawrence E. Blume and Steven N. Durlauf	1	(4)
The Epidemiology of Macroeconomic Expectations
Christopher D. Carroll	5	(26)
Social Learning and the Adoption of Knowledge
Charles F. Manski	31	(18)
Rationality and Selection in Asset Markets
Lawrence E. Blume and David Easley	49	(18)
Statistical Physics and Economic Fluctuations
H. Eugene Stanley, Xavier Gabaix, Parameswaran Gopikrishnan, and Vasiliki Plerou	67	(34)
Market Efficiency, the Pareto Wealth Distribution, and the Lévy Distribution of Stock Returns
Moshe Levy	101	(32)
A Random Order Placement Model of Price Formation in the Continuous Double Auction
J. Doyne Farmer, László Gillemot, Giulia Iori, Supriya Krishnamurthy, D. Eric Smith, and Marcus G. Daniels	133	(42)
Multinomial Choice with Social Interactions
Wiliam A. Brock and Steven N. Durlauf	175	(32)
Heterogeneity and Uniqueness in Interaction Games
Stephen Morris and Hymn Song Shin	207	(36)
Perspectives on the Economy as an Evolving Complex System
Larry Samuelson	243	(24)
The Diffusion of Innovations in Social Networks
H. Peyton Young	267	(16)
Dynamic Properties of Local Interaction Models
Timothy C. Conley and Giorgio Topa	283	(26)
Useful Knowledge as an Evolving System: The View from Economic History
Joel Mokyr	309	(28)
Prosocial Emotions
Samuel Bowles and Herbert Gintis	337	(30)
Index	367