{"product_id":"nonlinearity-complexity-and-randomness-in-economics-isbn-9781444350319","title":"Nonlinearity, Complexity and Randomness in Economics","description":"\u003ci\u003eNonlinearity, Complexity and Randomness in Economics\u003c\/i\u003e presents a variety of papers by leading economists, scientists, and philosophers who focus on different aspects of nonlinearity, complexity and randomness, and their implications for economics. A theme of the book is that economics should be based on algorithmic, computable mathematical foundations.\u003cbr\u003e \u003cbr\u003e   \u003cul\u003e \u003cli\u003eFeatures an interdisciplinary collection of papers by economists, scientists, and philosophers\u003cbr\u003e \u003c\/li\u003e \u003cli\u003ePresents new approaches to macroeconomic modelling, agent-based modelling, financial markets, and emergent complexity\u003cbr\u003e \u003c\/li\u003e \u003cli\u003eReveals how economics today must be based on algorithmic, computable mathematical foundations\u003c\/li\u003e \u003c\/ul\u003e  Notes on Contributors vii  \u003cp\u003e1. Introduction 1\u003cbr\u003e \u003ci\u003eStefano Zambelli\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e2. Towards an Algorithmic \u003ci\u003eRevolution\u003c\/i\u003e in Economic Theory 7\u003cbr\u003e \u003ci\u003eK. Vela Velupillai\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e3. An Algorithmic Information-Theoretic Approach to the Behaviour of Financial Markets 37\u003cbr\u003e \u003ci\u003eHector Zenil and Jean-Paul Delahaye\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e4. Complexity and Randomness in Mathematics: Philosophical Reflections on the Relevance for Economic Modelling 69\u003cbr\u003e \u003ci\u003eSundar Sarukkai\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e5. Behavioural Complexity 85\u003cbr\u003e \u003ci\u003eSami Al-Suwailem\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e6. Bounded Rationality and the Emergence of Simplicity Amidst Complexity 111\u003cbr\u003e \u003ci\u003eCassey Lee\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e7. Emergent Complexity in Agent-Based Computational Economics 131\u003cbr\u003e \u003ci\u003eShu-Heng Chen and Shu G.Wang\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e8. Non-Linear Dynamics, Complexity and Randomness: Algorithmic Foundations 151\u003cbr\u003e \u003ci\u003eK. Vela Velupillai\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e9. Stock-Flow Interactions, Disequilibrium Macroeconomics and the Role of Economic Policy 173\u003cbr\u003e \u003ci\u003eToichiro Asada, Carl Chiarella, Peter Flaschel, Tarik Mouakil, Christian Proa˜no andWilli Semmler\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e10. Equilibrium Versus Market Efficiency: Randomness versus Complexity in Finance Markets 203\u003cbr\u003e \u003ci\u003eJoseph L. McCauley\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e11. Flexible Accelerator Economic Systems as Coupled Oscillators 211\u003cbr\u003e \u003ci\u003eStefano Zambelli\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e12. Shifting Sands: Non-Linearity, Complexity and Randomness in Economics 237\u003cbr\u003e \u003ci\u003eDonald A.R. George\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIndex 241\u003c\/p\u003e  \u003cb\u003eStefano Zambelli\u003c\/b\u003e is Professor of Political Economy at the Department of Economics, University of Trento, Italy. He is also a founding member of the Algorithmic Social Sciences Research Unit (ASSRU) at University of Trento.\u003cbr\u003e \u003cbr\u003e \u003cb\u003eDonald A.R. George\u003c\/b\u003e is Senior Lecturer in Economics at the University of Edinburgh. He has published extensively on the economics of self-management, economic dynamics, and the economics of product reliability, and is joint founding Editor of the \u003ci\u003eJournal of Economic Surveys\u003c\/i\u003e. The \"great crash of 2008\" and its associated banking crisis have revealed the limitations of mainstream economics. While exposing the increasing irrelevance of the field, they have forced a number of economists to re-examine their discipline. The financial meltdown also showed how traditional linear or linearised models with well-behaved additive stochastic disturbances, based on orthodox \"microeconomic foundations\", are not adequate to deal with the complexities of today's world. \u003ci\u003eNonlinearity, Complexity and Randomness in Economics\u003c\/i\u003e presents a variety of cutting edge papers by leading economists, scientists, and philosophers. Topics explored include nonlinear macroeconomic modelling, agent-based modelling, information-theoretic modelling of financial markets, bounded rationality, and emergent complexity. Utilizing an interdisciplinary approach, \u003ci\u003eNonlinearity, Complexity and Randomness in Economics\u003c\/i\u003e reveals how true intellectual rigour in economics requires a basis in algorithmic, computable mathematical foundations.","brand":"Wiley-Blackwell","offers":[{"title":"Default Title","offer_id":47989696626917,"sku":"NP9781444350319","price":37.5,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781444350319.jpg?v=1761785143","url":"https:\/\/k12savings.com\/products\/nonlinearity-complexity-and-randomness-in-economics-isbn-9781444350319","provider":"K12savings","version":"1.0","type":"link"}