Coping with the Complexity of Economics - Couverture souple

Couverture souple

ISBN 10 : 8847055695 ISBN 13 : 9788847055698

Editeur : Springer, 2014

Synopsis

Throughout the history of economics, a variety of analytical tools have been borrowed from the so-called exact sciences. As Schoe?er (1955) puts it: “They have taken their mathematics and their ded- tive techniques from physics, their statistics from genetics and agr- omy, their systems of classi?cation from taxonomy and chemistry, their model-construction techniques from astronomy and mechanics, and their methods of analysis of the consequences of actions from en- neering”. The possibility of similarities of structure in mathematical models of economic and physical systems has been an important f- tor in the development of neoclassical theory. To treat the state of an economy as an equilibrium, analogous to the equilibrium of a mech- ical system has been a key concept in economics ever since it became a mathematically formalized science. Adopting a Newtonian paradigm neoclassical economics often is based on three fundamental concepts. Firstly, the representative agent who is a scale model of the whole society with extraordinary capacities, particularly concerning her - pability of information processing and computation. Of course, this is a problematic reduction as agents are both heterogeneous and bou- edly rational and limited in their cognitive capabilities. Secondly, it often con?ned itself to study systems in a state of equilibrium. But this concept is not adequate to describe and to support phenomena in perpetual motion.

A propos du livre

Présentation de l'éditeur

This book features papers dedicated to the memory of Massimo Salzano, who has been a fervent advocate of the complexity approach. It provides an overview to recent developments in theory and empirical research that view economic systems as complex phenomena.

Détails de l'édition

• Éditeur: Springer
• Date d'édition: 2014
• Langue: anglais
• ISBN 10: 8847055695
• ISBN 13: 9788847055698
• Reliure: Broché
• Nombre de pages: 188
• Éditeur: Faggini Marisa, Lux Thomas
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible