Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems Cars H. Hommes

ISBN:

Published: December 31st 2012

Kindle Edition

267 pages


Description

Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems  by  Cars H. Hommes

Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems by Cars H. Hommes
December 31st 2012 | Kindle Edition | PDF, EPUB, FB2, DjVu, audiobook, mp3, RTF | 267 pages | ISBN: | 7.19 Mb

Recognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic modelsMoreRecognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic models with empirical stylized facts and laboratory experiments.

The complexity modeling paradigm has been strongly advocated since the late 1980s by some economists and by multidisciplinary scientists from various fields, such as physics, computer science and biology. More recently the complexity view has also drawn the attention of policy makers, who are faced with complex phenomena, irregular fluctuations and sudden, unpredictable market transitions. The complexity tools - bifurcations, chaos, multiple equilibria - discussed in this book will help students, researchers and policy makers to build more realistic behavioral models with heterogeneous expectations to describe financial market movements and macro-economic fluctuations, in order to better manage crises in a complex global economy.



Enter the sum





Related Archive Books



Related Books


Comments

Comments for "Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems":


howl2000.com

©2010-2015 | DMCA | Contact us