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Author: Yuji Aruka
Publisher: Springer
ISBN: 9811057052
Category : Business & Economics
Languages : en
Pages : 278
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Book Description
This book focuses on how important massive information is and how sensitive outcomes are to information. In this century humans now are coming up against the massive utilization of information in various contexts. The advent of super intelligence is drastically accelerating the evolution of the socio-economic system. Our traditional analytic approach must therefore be radically reformed in order to adapt to an information-sensitive framework, which means giving up myopic purification and the elimination of all considerations of massive information. In this book, authors who have shared and exchanged their ideas over the last 20 years, offer thorough examinations of the theoretical–ontological basis of complex economic interaction, econophysics, and agent-based modeling during the last several decades. This book thus provides the indispensable philosophical-scientific foundations for this new approach, and then moves on to empirical–epistemological studies concerning changes in sentiments and other movements in financial markets.
Author: Yuji Aruka
Publisher: Springer
ISBN: 9811057052
Category : Business & Economics
Languages : en
Pages : 278
Get Book Here
Book Description
This book focuses on how important massive information is and how sensitive outcomes are to information. In this century humans now are coming up against the massive utilization of information in various contexts. The advent of super intelligence is drastically accelerating the evolution of the socio-economic system. Our traditional analytic approach must therefore be radically reformed in order to adapt to an information-sensitive framework, which means giving up myopic purification and the elimination of all considerations of massive information. In this book, authors who have shared and exchanged their ideas over the last 20 years, offer thorough examinations of the theoretical–ontological basis of complex economic interaction, econophysics, and agent-based modeling during the last several decades. This book thus provides the indispensable philosophical-scientific foundations for this new approach, and then moves on to empirical–epistemological studies concerning changes in sentiments and other movements in financial markets.
Author: Gonzalo Castañeda
Publisher: CEEY
ISBN: 607803653X
Category : Mathematics
Languages : es
Pages : 1032
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Book Description
With the recent developments in computing technologies and the thriving research scene in Complexity Science, economists and other social scientists have become aware of a more flexible and promising alternative for modelling socioeconomic systems; one that, in contrast with neoclassical economics, advocates for the realism of the assumptions, the importance of context and culture, the heterogeneity of agents (individuals or organizations), and the bounded rationality of individuals who behave and learn in multifaceted ways in uncertain environments. The book synthesizes an extensive body of work in the field of social complexity and constructs a unifying framework that allows developing concrete applications to important socioeconomic problems. This one-of-a-kind textbook provides a comprehensive panorama for advanced undergraduates and graduate students who want to become familiar with a wide range of issues related to social complexity. It is also a pioneering text that can support professors who wish to learn techniques and produce research in this novel field. Con los desarrollos recientes en las tecnologías de la computación y el floreciente dinamismo de las ciencias de la complejidad, economistas y otros científicos sociales tienen a su alcance una flexible y prometedora alternativa para la modelación de los sistemas socioeconómicos. Esta metodología, en contraste con la economía neoclásica, aboga por el realismo de los supuestos, la importancia del contexto y la cultura, la heterogeneidad de los agentes (individuos y organizaciones), y la racionalidad acotada de las personas que se comportan y aprenden de maneras muy diversas en entorno con incertidumbre. El libro sintetiza la extensa literatura que existe sobre la complejidad social, y construye un enfoque unificador que permite elaborar aplicaciones concretas con las que abordar importantes problemas socioeconómicos. Se trata de un texto singular dado que presenta un panorama comprensivo del campo de estudio, por lo que puede resultar de sumo interés para estudiante de licenciatura avanzados, y alumnos de posgrado que desean adentrarse en el tema. Asimismo, se trata de un texto pionero de gran utilidad para profesores y analistas interesados en aprender algunas de las técnicas del paradigma de la complejidad social para, de esta forma, aplicarlas en sus tareas de investigación.
Author: David Colander
Publisher: Princeton University Press
ISBN: 0691169136
Category : Business & Economics
Languages : en
Pages : 320
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Book Description
How ideas in complexity can be used to develop more effective public policy Complexity science—made possible by modern analytical and computational advances—is changing the way we think about social systems and social theory. Unfortunately, economists' policy models have not kept up and are stuck in either a market fundamentalist or government control narrative. While these standard narratives are useful in some cases, they are damaging in others, directing thinking away from creative, innovative policy solutions. Complexity and the Art of Public Policy outlines a new, more flexible policy narrative, which envisions society as a complex evolving system that is uncontrollable but can be influenced. David Colander and Roland Kupers describe how economists and society became locked into the current policy framework, and lay out fresh alternatives for framing policy questions. Offering original solutions to stubborn problems, the complexity narrative builds on broader philosophical traditions, such as those in the work of John Stuart Mill, to suggest initiatives that the authors call "activist laissez-faire" policies. Colander and Kupers develop innovative bottom-up solutions that, through new institutional structures such as for-benefit corporations, channel individuals’ social instincts into solving societal problems, making profits a tool for change rather than a goal. They argue that a central role for government in this complexity framework is to foster an ecostructure within which diverse forms of social entrepreneurship can emerge and blossom.
Author: Yoshinori Shiozawa
Publisher: Springer
ISBN: 4431552677
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent approach to economics must include a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics has rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it does not have its own value theory and is not capable of explaining the workings of everyday economics processes, in which any evolutionary process would take place. Our point of departure is the addition of myopic agents with severely limited rational and forecasting capacities (in stark contrast to mainstream economics). We show how myopic agents, in a complex world, can produce a stable price system and demonstrate how they can adjust their production to changing demand flows. Agents behave without any knowledge of the overall process, and they generate a stable economy as large as the global network of exchanges. This is the true “miracle” of the market mechanism. In contrast to mainstream general equilibrium theory, this miracle can be explained without the need for an auctioneer or infinitely rational agents. Thanks to this book, evolutionary economics can now claim to be an independent approach to economics that can completely replace mainstream neoclassical economics.
Author: Hiroyasu Uemura
Publisher: Springer Nature
ISBN: 9811986886
Category : Business & Economics
Languages : en
Pages : 144
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Book Description
This is the first book that systematically considers the academic achievements of Japanese institutionalist post-Keynesian economists in the postwar period and argues that we can learn much from their intellectual heritage. Those Japanese economists include the world-renowned figures, Shigeto Tsuru and Hirofumi Uzawa, whose inheritance came from Keynes, Marx, and institutionalism. In the era of globalization after the 1990s, economic inequality and social divide have intensified all over the world. In this situation, the academic achievements of those economists in postwar Japan should be reconsidered for the aim of establishing a new political economy. With this perspective, the book looks at what we can learn from Japanese institutionalist post-Keynesian economists In particular, the essence of research work that each of them developed is identified, focusing on the total image of the economy for contemporary capitalism. Those economists benefited from the diverse legacies of Keynes, Marx, Kalecki and institutionalist economists such as Veblen and Galbraith. When their research is examined systematically, Japanese institutionalist post-Keynesians are commonly characterized as those who developed their institutional analysis of contemporary capitalism with in-depth theoretical and empirical studies, with the aim of establishing their own political economy as the moral science of civil society. These important features provide us with insightful implications for institutional economics in the 21st century.
Author: Jim Granato
Publisher: Cambridge University Press
ISBN: 0521193869
Category : Political Science
Languages : en
Pages : 399
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Book Description
Provides a framework to demonstrate how to unify formal, theoretical and empirical analysis through various interdisciplinary examples.
Author: J. Stanley Metcalfe
Publisher: Edward Elgar Publishing
ISBN: 184542350X
Category : Science
Languages : en
Pages : 248
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Book Description
This book provides a useful introduction to evolutionary economics. Adam Gifford, Journal of Bioeconomics With this important collection of fine new papers, Foster and Metcalfe have brought together another volume that will make an impact on the newly unfolding science-of-complexity approach to economics. Ranging from the theoretical foundations to modeling tools and concrete empirical applications, the contributions cover all relevant areas. The reader is being offered exciting new views on variety generating and selecting mechanisms in the economy and their role for technological and commercial change. Ulrich Witt, Max Planck Institute, Jena, Germany Dedicated to the goal of furthering evolutionary economic analysis, this book provides a coherent scientific approach to deal with the real world of continual change in the economic system. Expansive in its scope, this book ranges from abstract discussions of ontology, analysis and theory to more practical discussions on how we can operationalize notions such as capabilities from what we understand as knowledge . Simulation techniques and empirical case studies are also used. Sharpening the focus of the relationship between economic evolution and economic complexity, the book will be of great interest to academics, students and researchers of evolutionary economics.
Author: M. Mitchell Waldrop
Publisher: Open Road Media
ISBN: 150405914X
Category : Science
Languages : en
Pages : 492
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Book Description
“If you liked Chaos, you’ll love Complexity. Waldrop creates the most exciting intellectual adventure story of the year” (The Washington Post). In a rarified world of scientific research, a revolution has been brewing. Its activists are not anarchists, but rather Nobel Laureates in physics and economics and pony-tailed graduates, mathematicians, and computer scientists from all over the world. They have formed an iconoclastic think-tank and their radical idea is to create a new science: complexity. They want to know how a primordial soup of simple molecules managed to turn itself into the first living cell—and what the origin of life some four billion years ago can tell us about the process of technological innovation today. This book is their story—the story of how they have tried to forge what they like to call the science of the twenty-first century. “Lucidly shows physicists, biologists, computer scientists and economists swapping metaphors and reveling in the sense that epochal discoveries are just around the corner . . . [Waldrop] has a special talent for relaying the exhilaration of moments of intellectual insight.” —The New York Times Book Review “Where I enjoyed the book was when it dove into the actual question of complexity, talking about complex systems in economics, biology, genetics, computer modeling, and so on. Snippets of rare beauty here and there almost took your breath away.” —Medium “[Waldrop] provides a good grounding of what may indeed be the first flowering of a new science.” —Publishers Weekly
Author: W. Brian Arthur
Publisher:
ISBN: 9781947864375
Category : Science
Languages : en
Pages : 382
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Book Description
When Santa Fe Institute scientists first started working on economics more than thirty years ago, many of their insights, approaches, and tools were considered beyond heterodox. These once-disparaged approaches included network economics, agents of limited rationality, and institutional evolution-all topics that are now increasingly considered mainstream. SFI continues to expand the boundary of our economic understanding by pioneering fields as diverse as collective intelligence and organizational scaling. This volume, edited by W. Brian Arthur, Eric D. Beinhocker, and Allison Stanger, includes panel and talk transcripts from SFI's 2019 Applied Complexity Network Symposium, with newly written introductions and reflections. Representing both scholarly and practitioner perspectives, this book explores the history and frontiers of complexity economics in a broad-ranging, accessible manner.
Author: Graham Room
Publisher: Edward Elgar Publishing
ISBN: 0857932640
Category : Political Science
Languages : en
Pages : 393
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Book Description
I think this is a very important book. Very few people in the social sciences write books on this topic and really do justice to complexity theory. Professor Room gives a very detailed, accurate and accessible review of complexity theory as it applies to social policy. His link with institutional theory is very appropriate and his discussion on the need for regulation (a link with complexity theory that many people would never reach) is really important and well grounded. It would be of interest to academics who really want to understand the implications of complexity theory for policy making in complex and fast-changing situations and to those undertaking advanced courses in politics, economics and sociology. - Jean Boulton, University of Cranfield, UK Graham Room argues that conventional approaches to the conceptualisation and measurement of social and economic change are unsatisfactory. As a result, researchers are ill-equipped to offer policy advice. This book offers a new analytical approach, combining complexity science and institutionalism. It also provides tools for policy makers in turbulent times. Part 1 is concerned with the conceptualisation of socio-economic change. It integrates complexity science and institutionalism into a coherent ontology of social and policy dynamics. Part 2 is concerned with models and measurement. It combines some of the principal approaches developed in complexity analysis with models and methods drawn from mainstream social and political science. Part 3 offers empirical applications to public policy: the dynamics of social exclusion; the social dimension of knowledge economies; the current financial and economic crisis. These are supplemented by a toolkit for the practice of agile policy making.
