Nonlinearity, Complexity And Randomness In Economics: Towards Algorithmic Foundations for Economics

Name: Nonlinearity, Complexity And Randomness In Economics: Towards Algorithmic Foundations for Economics
Brand: Wiley
SKU: 9781444350319
Price: 2320.0 INR
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by Stefano Zambelli , Donald A.R. George

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ISBN13: 9781444350319
Binding: Paperback
Subject: Economics
Publisher: Wiley
Publisher Imprint: Wiley-Blac
Publication Date: January 1, 2012
Pages: 256
Original Price: USD 37.5
Language: English
Edition: N/A
Item Weight: 409 grams
BISAC Subject(s): Economics / General and Econometrics

About The Book

From the Back Cover
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. Nonlinearity, Complexity and Randomness in Economics 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, Nonlinearity, Complexity and Randomness in Economics reveals how true intellectual rigour in economics requires a basis in algorithmic, computable mathematical foundations.

About The Author

Stefano Zambelli 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.

Donald A.R. George 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 Journal of Economic Surveys.

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