There is an increasing awareness of the potential of nonlinear modeling in regional science, which can partly be explained by the recognition of the limitations of conventional equilibrium models in complex situations and partly by the easy availability and accessibility of sophisticated...

Richard H. Day was one of the first economists to recognize the importance of complex dynamics, or chaos theory, to economics. He can justly be described as one of the originators of the now extensive economic literature on chaos. The two volumes of Complex Economic Dynamics show that, far from...

Structural changes were the main focus of many studies in recent years. Changes which alter the socio-economic status of a nation from deprived and traditional nature to a developed and modern one. The main hypothesis of this study is that, the economic development does not occur through a...

This essay is intended to make a contribution to the philosophical model-discussion in the development of science, i.e. the process of adopting, keeping and rejecting scientific <p> theories. The aim of this short investigation is to make a contribution to the understanding <p> of development steps in...</p></p>

”Constructionism shares constructivism's connotation of learning as ”building knowledge structures” irrespective of the circumstances of the learning. It then adds that this happens especially felicitously in a context where the learner is consciously engaged in constructing a public...

A model of cumulative causation is extended to incorporate endogenous structural change. This is achieved via the use of a non-linear feedback of the growth rate on to the income elasticity of demand for exports. The result is a model that, under certain conditions, exhibits chaotic switches...

The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics...

In this article, we specify the different approaches followed by the economists and the financial economists in order to use chaos theory. We explain the main difference using this theory with other research domains like the mathematics and the physics. Finally, we present tools necessary for...

We propose a novel methodology for forecasting chaotic systems which is based on the nearest-neighbor predictor and improves upon it by incorporating local Lyapunov exponents to correct for its inevitable bias. Using simulated data, we show that gains in prediction accuracy can be substantial....

This paper applies non linear methods to analyze and predict the daily open S&P index which is one of the most important stock index in the world .The aim of the analysis is to quantitatively show if the corresponding time series is a deterministic chaotic one and if one or more days ahead...