Chaos, Complexity, And Nonlinear Economic Theory

Released on by Wei-bin Zhang
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  • Chaos, Complexity, And Nonlinear Economic Theory Book Detail

  • Author : Wei-bin Zhang
  • Release Date : 2023-05-17
  • Publisher : World Scientific
  • Genre : Mathematics
  • Pages : 228
  • ISBN 13 : 981126743X
  • File Size : 28,28 MB
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Chaos, Complexity, And Nonlinear Economic Theory by Wei-bin Zhang PDF Summary

Book Description: What do economic chaos and uncertainties mean in rational or irrational economic theories? How do simple deterministic interactions among a few variables lead to unpredictable complex phenomena? Why is complexity of economies causing so many conflicts and confusions worldwide?This book provides a comprehensive introduction to recent developments of complexity theory in economics. It presents different models based on well-accepted economic mechanisms such as the Solow model, Ramsey model, and Lucas model. It is focused on presenting complex behaviors, such as business cycles, aperiodic motion, bifurcations, catastrophes, chaos, and hidden attractors, in basic economic models with nonlinear behavior. It shows how complex nonlinear phenomena are identified from various economic mechanisms and theories. These models demonstrate that the traditional or dominant economic views on evolution of, for instance, capitalism market, free competition, or Keynesian economics, are not generally valid. Markets are unpredictable and nobody knows with certainty the consequences of policies or other external factors in economic systems with simple interactions.

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Chaos, Complexity and Leadership 2020

Chaos, Complexity and Leadership 2020

File Size : 92,92 MB
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This book analyzes a range of new developments in various fields concerning the concepts of chaos and complexity theory. The proceedings of the 7th Internationa