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Complex systems approach to economic dynamics 1st Edition by Abraham Chian ISBN 9783540397533 3540397531

Name: Complex systems approach to economic dynamics 1st Edition by Abraham Chian ISBN 9783540397533 3540397531
SKU: EB-19398
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Authors:Complex systems approach to economic dynamics-Springer (2007) , Author sort:dynamics-Springer, Complex systems approach to economic , Published:Published:Oct 2007

SKU: EB-19398 Category: eBook PDF Tags: Abraham Chian, Complex systems, economic dynamics

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ISBN 10: 3540397531
ISBN 13: 9783540397533
Author: Abraham Chian

Economic Systems exhibit complex dynamics evidenced by large-amplitude and aperiodic fluctuations in economic variables, such as foreign exchange rates and stock market prices, indicating that these systems are driven far from the equilibrium. Characterization of the complex behavior of economic cycles, by identifying regular and irregular patterns and regime switching in economic time series, is the key for pattern recognition and forecasting of economic cycles. Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts of unstable periodic orbits and chaotic saddles which are unstable structures embedded in a chaotic attractor, responsible for economic intermittency.

Complex systems approach to economic dynamics 1st Edition Table of contents:

Part I: Foundations of Complex Systems and Economics

Introduction to Complex Systems
- Defining Complex Systems
- Emergence, Self-Organization, and Nonlinearity
- The Role of Feedback Loops in Complex Systems
- Key Concepts in Complexity Theory
Economic Dynamics: Classical Approaches and Limitations
- Overview of Classical Economic Models
- Shortcomings of Traditional Economic Theories
- Introduction to Systemic Economic Dynamics
- Nonlinear Dynamics in Economics
Interdisciplinary Connections: Complexity Science and Economics
- Complexity Science and Its Relevance to Economics
- Cross-Pollination between Physics, Biology, and Economics
- Historical Development of Complex Systems in Economics
- The Need for New Economic Models

Part II: Modeling Complex Economic Systems

Mathematical and Computational Tools for Complex Economic Systems
- Mathematical Models in Complex Systems
- Simulation Techniques for Economic Dynamics
- Agent-Based Modeling and System Dynamics
- Network Theory and Economic Systems
Macroeconomic Dynamics and Systemic Risk
- Understanding Macroeconomic Fluctuations through Complex Systems
- Identifying Sources of Systemic Risk
- Modeling Economic Crises and Failures
- The Role of Feedback Mechanisms in Economic Stability
Market Dynamics: Nonlinearities and the Role of Information
- The Complexity of Financial Markets
- Herd Behavior and Market Bubbles
- Information Flow and Market Efficiency
- Nonlinear Interactions in Financial Systems

Part III: Applications of Complex Systems in Economic Modeling

Economic Growth and Development: A Complex Systems Perspective
- Modeling Economic Growth in Complex Systems Terms
- Path Dependence and Lock-In Effects
- Innovation, Technology, and Growth Dynamics
- Long-Term Economic Development through Systemic Models
Globalization and Interconnectedness of Economies
- The Role of Networks in Global Economic Dynamics
- Modeling International Trade and Finance Systems
- Complex Interdependencies between Global Markets
- Economic Shocks and Cascading Effects
Socioeconomic Systems and Policy Implications
- Social Networks and Economic Behavior
- Inequality, Power, and Distribution in Complex Economies
- Policymaking in the Context of Economic Complexity
- Systemic Policy Interventions for Economic Stability

Part IV: Advanced Topics in Economic Dynamics and Complexity

Behavioral Economics and Complex Adaptive Systems
- Integrating Psychological Factors into Complex Economic Models
- Behavioral Feedback Loops in Economic Systems
- The Role of Bounded Rationality in Decision-Making
- Adaptive Behavior and Market Efficiency
Complex Systems and Sustainable Economic Models
- Environmental Economics and Sustainability
- Resilience of Economic Systems to Environmental Shocks
- Complex System Models for Sustainable Development
- Long-Term Strategies for Economic Sustainability
From Complexity to Policy: Managing Economic Systems in Practice
- Managing Complex Economic Systems in Real-World Scenarios
- Policy Tools for Addressing Economic Instability
- Managing Risk and Uncertainty in Economic Models
- Forecasting and Decision Support in Complex Economic Systems

Part V: Conclusion

The Future of Economic Modeling: Towards a Unified Theory
- Unifying Complex Systems with Economic Theory
- Future Directions in Complexity Economics
- Interdisciplinary Approaches to Economic Science
- The Role of Computational Power in Advancing Economic Modeling

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