Introduction to the Economy as an Evolving Complex System II. PDF Download

Author: W. Brian Arthur
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 14

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Author: W. Brian Arthur
Publisher: CRC Press
ISBN: 0429976267
Category : Mathematics
Languages : en
Pages : 437

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Book Description
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.

Author: Santa Fe Instit
Publisher: Addison Wesley Publishing Company
ISBN:
Category : Business & Economics
Languages : en
Pages : 344

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Book Description
This book proceeds from a meeting at the Santa Fe Institute where economists and physical and biological scientists came together to discuss a conceptual framework incorporating a more appropriate mat

Author: W. Brian Arthur
Publisher: Oxford University Press, USA
ISBN: 0199334293
Category : Business & Economics
Languages : en
Pages : 241

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Book Description
A collection of previous published papers by the author on the subject of complexity economics, appearing from the 1980s to the present.

Author: Sunny Y. Auyang
Publisher: Cambridge University Press
ISBN: 9780521778268
Category : Business & Economics
Languages : en
Pages : 422

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Book Description
Analyzes approaches to the study of complexity in the physical, biological, and social sciences.

Author: Richard R. Nelson
Publisher: Cambridge University Press
ISBN: 1108660789
Category : Business & Economics
Languages : en
Pages : 285

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Book Description
Evolutionary economics sees the economy as always in motion with change being driven largely by continuing innovation. This approach to economics, heavily influenced by the work of Joseph Schumpeter, saw a revival as an alternative way of thinking about economic advancement as a result of Richard Nelson and Sidney Winter's seminal book, An Evolutionary Theory of Economic Change, first published in 1982. In this long-awaited follow-up, Nelson is joined by leading figures in the field of evolutionary economics, reviewing in detail how this perspective has been manifest in various areas of economic inquiry where evolutionary economists have been active. Providing the perfect overview for interested economists and social scientists, readers will learn how in each of the diverse fields featured, evolutionary economics has enabled an improved understanding of how and why economic progress occurs.

Author: B. Joseph Pine
Publisher: Harvard Business Press
ISBN: 9780875848198
Category : Business & Economics
Languages : en
Pages : 276

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Book Description
This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products.

Author: Miroslav N. Jovanović
Publisher: Edward Elgar Publishing
ISBN: 1785368990
Category : Business & Economics
Languages : en
Pages : 789

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Book Description
A crucial question in contemporary economics concerns where economic activities will locate and relocate themselves in the future. This comprehensive, innovative book applies an evolutionary framework to spatial economics, arguing against the prevailing neoclassical equilibrium model, providing important concrete and theoretical insights, and illuminating areas of future enquiry.

Author: Wolfram Elsner
Publisher: Academic Press
ISBN: 0124115993
Category : Business & Economics
Languages : en
Pages : 599

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Book Description
The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset. Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories. Describes the usefulness of complex heterodox economics Emphasizes divergences and convergences with neoclassical economic theories and perspectives Fits easily into courses on intermediate microeconomics, industrial organization, and games through self-contained chapters

Author: Agnar Sandmo
Publisher: Princeton University Press
ISBN: 0691148422
Category : Business & Economics
Languages : en
Pages : 502

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Book Description
This book describes the history of economic thought, focusing on the development of economic theory from Adam Smith's 'Wealth of Nations' to the late twentieth century. The text concentrates on the most important figures in the history of the economics. The book examines how important economists have reflected on the sometimes conflicting goals of efficient resource use and socially acceptable income distribution.--[book cover].