Complexity Hints for Economic Policy

by Massimo Salzano, David Colander

This book considers the benefits of complexity, suggesting that economists should become a bit less certain in their policy conclusions. A broader range of models would include agent-based models, which use computational power to deal with specification of models that are far beyond analytic solution; and non-linear dynamic stochastic models, many of which are beyond analytic solution, but whose nature can be discovered by a combination of analytics and computer simulations.

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Year of publication:	2007
Authors:	Salzano, Massimo
Other Persons:	Colander, David C. (contributor)
Publisher:	Milan : Springer
Subject:	Wirtschaftspolitik \| Economic policy \| Theorie \| Theory \| Mehragentensystem \| Stochastisches System \| Nichtlineare Dynamik
Description of contents:	Provides some alternative pattern generators, which can supplement existing approaches by providing an alternative way of finding patterns than be obtained by the traditional scientific approach Table of Contents [swbplus.bsz-bw.de] ; Description [swbplus.bsz-bw.de]

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Extent:	Online-Ressource (XXIII, 311 p, online resource)
Series:	New Economic Windows SpringerLink / Bücher
Type of publication:	Book / Working Paper
Language:	English
Notes:	Includes bibliographical references Front Matter; Rationality, learning and complexity: from the Homo economicus to the Homo sapiens; The Confused State of Complexity Economics: An Ontological Explanation; The Complex Problem of Modeling Economic Complexity; Visual Recurrence Analysis: Application to Economic Time series; Complexity of Out-of-Equilibrium Play in Tax Evasion Game; A New Stochastic Framework for Macroeconomics: Some Illustrative Examples; Probability of Traffic Violations and Risk of Crime: A Model of Economic Agent Behavior; Markov Nets and the NetLab Platform: Application to Continuous Double Auction Synchronization in Coupled and Free Chaotic SystemsExplaining Social and Economic Phenomena by Models with Low or Zero Cognition Agents; Information and Cooperation in a Simulated Labor Market: A Computational Model for the Evolution of Workers and Firms; Income Inequality, Corruption, and the Non-Observed Economy: A Global Perspective; Forecasting Inflation with Forecast Combinations: Using Neural Networks in Policy; The Impossibility of an Effective Theory of Policy in a Complex Economy; Implications of Scaling Laws for Policy-Makers; Robust Control and Monetary Policy Delegation Back Matter
ISBN:	978-88-470-0534-1 ; 978-88-470-0533-4
Other identifiers:	10.1007/978-88-470-0534-1 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013520682