Economy As An Evolving Complex System II
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A01=David Lane
A01=Steven N Durlauf
A01=W. Brian Arthur
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adaptive agent interaction models
agent-based modeling
Alan P. Kirman
Arrow Debreu Equilibrium
Artifact Space
Author_David Lane
Author_Steven N Durlauf
Author_W. Brian Arthur
Axel Leijonhufvud
BDS Test
Blake LeBaron
CA Model
Category=PB
Charles F. Manski
complex adaptive systems
computational social science
Conditional Expectations
D. Lanef
David Lane
Democratic Referenda
Discrete Choice Model
Douglass C. North
economic dynamics
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
equilibria
evolutionary economics
Expectational Models
Fitness Score
game
graph
heterogeneous agents
Higher Fitness Score
Invariant Distribution
iterate
Iterate PD Game
John F. Padgett
John Geanakoplos
John H. Holland
John H. Miller
Ken Kollman
Kristian Lindgren
Lawrence E. Blume
Leigh Tesfatsion
market
Markov Random Field
Martin Shubik
matching
Minimum Tolerance Level
nash
Nash Equilibria
Paul Krugman
Paul Tayler
PD Game
Philip W. Anderson
random
Random Graph
Random Graph Theory
Random Matching
Rational Expectations
Refusal Payoffs
Richard Palmer
Robert Maxfield
RPV.
S. A. Kauffman
S. N. Durlauf
Scott E. Page
Steven N. Durlauf
Stochastically Stable
strategic
Strategic Market Game
utility
V. M. Darley
W. B. Arthur
William A. Brock
Yannis M. loannides
Product details
- ISBN 9780367091163
- Weight: 1270g
- Dimensions: 152 x 229mm
- Publication Date: 13 Jun 2019
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Hardback
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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.
W Brian Arthur
