Chaos, Complexity, And Nonlinear Economic Theory
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€102.99
A01=Wei-bin Zhang
Adam Smith's Economic Equilibrium
Author_Wei-bin Zhang
Bifurcation
Bounded Rationality
Business Cycles
Capital Accumulation
Catastrophe
Category=PBWS
Complex Systems
Complexity Theory
Cournot Game
Deterministic Economic Dynamics
Diamond Model
DixitAcAEURA"Stiglitz Model
Economic Chaos
Economic Dynamics
Environmental Change
eq_isMigrated=1
eq_nobargain
Evolution of Economies
General Economic Theory
GoodwinAcAEURA"KaleckiAcAEURA"Marx Model
Haavelmo Population Model
Inflation
International Trade
IS-LM Model
Keynesian Economics
Learning-by-Doing
Lock-In
Lorenz Equations
LotkaAcAEURA"Volterra Model
Malthus Economics
Marxian Economics
Mathematical Biology
Monetary Policy
Monetary Rule
Money in Utility Function
Monopolistic Competition
Monopoly
Multiple Equilibrium Points
Multiple Paths
Neoclassical Economics
Neoclassical Growth Model
New Economic Growth Theory
Newtonian World Vision
Nonlinear Economics
Nonlinear Science
OnikiAcAEURA"Uzawa Model
Overlapping Generations Model
Path-Dependent Development
Piecewise Smooth Dynamical System
Population Dynamics
Poverty Trap. Cobweb Model
Predictability
Prey-Predator Model
R&D
Ramsey Growth Model
Rational and Irrational
Rational Expectation
Redistribution of Income
Self-Organization
Solow Growth Model
Stackelburg Game
Stock Market
Strange Attractor
Structural Change
Synergetic Economics
Taylor Rule
Technological Change
Uncertainty
Unpredictable
Urban Dynamics
Utility Function
UzawaAcAEURA"Lucas Model
Walrasian Economics
Product details
- ISBN 9789811267413
- Publication Date: 23 Jun 2023
- Publisher: World Scientific Publishing Co Pte Ltd
- Publication City/Country: SG
- Product Form: Hardback
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What do economic chaos and uncertainties mean in rational or irrational economic theories? How do simple deterministic interactions among a few variables lead to unpredictable complex phenomena? Why is complexity of economies causing so many conflicts and confusions worldwide?This book provides a comprehensive introduction to recent developments of complexity theory in economics. It presents different models based on well-accepted economic mechanisms such as the Solow model, Ramsey model, and Lucas model. It is focused on presenting complex behaviors, such as business cycles, aperiodic motion, bifurcations, catastrophes, chaos, and hidden attractors, in basic economic models with nonlinear behavior. It shows how complex nonlinear phenomena are identified from various economic mechanisms and theories. These models demonstrate that the traditional or dominant economic views on evolution of, for instance, capitalism market, free competition, or Keynesian economics, are not generally valid. Markets are unpredictable and nobody knows with certainty the consequences of policies or other external factors in economic systems with simple interactions.
