The Economy As An Evolving Complex System

by Anderson,Philip W.

• ISBN13: 9780201156850
• ISBN10: 0201156857
• Format: Nonspecific Binding
• Copyright: 1988-01-01
• Publisher: CRC Press

Summary

This book proceeds from a meeting at theSanta Fe Institutewhere economists and physical and biological scientists came together to discuss a conceptual framework incorporating a more appropriate mathematics with a greatly strengthened capacity to deal simultaneously with multiple variables, nonlinearity, incomplete information and dynamical processes.

Author Biography

David Pines is research professor of physics at the University of Illinois at Urbana-Champaign. He has made pioneering contributions to an understanding of many-body problems in condensed matter and nuclear physics, and to theoretical astrophysics. Editor of Perseus’ Frontiers in Physics series and former editor of American Physical Society’s Reviews of Modern Physics, Dr. Pines is a member of the National Academy of Sciences, the American Philosophical Society, a foreign member of the USSR Academy of Sciences, a fellow of the American Academy of Arts and Sciences, and of the American Association for the Advancement of Science. Dr. Pines has received a number of awards, including the Eugene Feenberg Memorial Medal for Contributions to Many-Body Theory; the P.A.M. Dirac Silver Medal for the Advancement of Theoretical Physics; and the Friemann Prize in Condensed Matter Physics.

Table of Contents

Foreword	p. i
Introduction and Overview	p. 1
Introduction and Overview	p. 3
Lectures and Perspectives	p. 7
Self-Reinforcing Mechanisms in Economics	p. 9
Neural Nets for Economists	p. 33
Persistent Oscillations and Chaos in Economic Models: Notes for a Survey	p. 49
Nonlinearity and Complex Dynamics in Economics and Finance	p. 77
Can New Approaches to Nonlinear Modeling Improve Economic Forecasts?	p. 99
The Global Economy as an Adaptive Process	p. 117
The Evolution of Economic Webs	p. 125
Computation and Multiplicity of Economic Equilibria	p. 147
A Simple Model for Dynamics away from Attractors	p. 169
Statistical Mechanics Approaches to Complex Optimization Problems	p. 177
Can Nonlinear Dynamics Help Economists?	p. 195
Rational Expectations, Game Theory and Inflationary Inertia	p. 205
Working Group Summaries	p. 243
Techniques and Webs	p. 245
Economic Cycles	p. 247
Patterns	p. 249
Final Plenary Discussion	p. 255
Final Plenary Discussion	p. 257
Summaries and Perspectives	p. 263
A Physicist Looks at Economics: An Overview of the Workshop	p. 265
Workshop on the Economy as an Evolving Complex System: Summary	p. 275
Research Papers	p. 283
Learning-By-Doing, International Trade and Growth: A Note	p. 285
Lyapunov Exponents for Stock Returns	p. 301
Appendix	p. 305
Summary of Meeting on "International Finance as a Complex System" at the Rancho Encantado, Tesuque, New Mexico, August 6-7, 1986	p. 307
Index	p. 313
Table of Contents provided by Syndetics. All Rights Reserved.