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This paper is an up-to-date survey of the state-of-the-art in dynamical systems theory relevant to high levels of dynamical complexity, characterizing chaos and near chaos, as commonly found in the physical sciences. The paper also surveys applications in economics and �finance. This survey...
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This paper surveys both the theoretical and empirical economics literatures on nonlinearity, complex dynamics, and chaos. Unlike earlier survey papers, this one is written for professional researchers in the area and assumes relevant mathematical background. Unsolved problems and unresolved...
Persistent link: https://www.econbiz.de/10005407949
This paper is an up-to-date survey of the state-of-the-art in consumer demand modelling. We review and evaluate advances in a number of related areas, including different approaches to empirical demand analysis, such as the differential approach, the locally flexible functional forms approach,...
Persistent link: https://www.econbiz.de/10005192647
In this paper we provide a review of the literature with respect to the efficient markets hypothesis and chaos. In doing so, we contrast the martingale behavior of asset prices to nonlinear chaotic dynamics, discuss some recent techniques used in distinguishing between probabilistic and...
Persistent link: https://www.econbiz.de/10005119197
This paper presents the differential approach to applied demand analysis. The demand systems of this approach are general, having coefficients which are not necessarily constant. We consider the Rotterdam parameterization of differential demand systems and derive the absolute and relative price...
Persistent link: https://www.econbiz.de/10005621405
This paper is an up-to-date survey of the state-of-the-art in consumer demand modelling. We review and evaluate advances in a number of related areas, including different approaches to empirical demand analysis, such as the differential approach, the locally �flexible functional forms...
Persistent link: https://www.econbiz.de/10005621542
This chapter is an up-to-date survey of the state-of-the art in consumer demand analysis. We review (and evaluate) advances in a number of related areas, in the spirit of the recent survey paper by Barnett and Serletis (2008). In doing so, we only deal with consumer choice in a static framework,...
Persistent link: https://www.econbiz.de/10005626866