Description
Book SynopsisUsing models, developed in one branch of science, to describe similar behaviors encountered in a different one, is the essence of a synergetic approach.A wide range of topics has been developed including Agent-based models, econophysics, socio-economic networks, information, bounded rationality and learning in economics, markets as complex adaptive systems — evolutionary economics, multiscale analysis and modeling, nonlinear dynamics and econometrics, physics of risk, statistical and probabilistic methods in economics and finance.This publication concentrates on process behavior of economic systems and building models that stem from Haken's, Prigogine's, Taylor's work as well as from nuclear physics models.
Table of ContentsBifurcation Theory Application - The Use of Child Labor in Low Income Economies; Second Order Effects in Population Migration - Reversing Trends; Cities as Reactors of Economic Transactions; Optimality and Chaotic Behavior in Unbundled Energy Markets; Fokker - Planck Equation and the Decision to Support or Abandon Technology Penetration; Nonlinear Effects in Technological Knowledge Production; Institutions as Benard-Taylor Dynamically Stable Processes; Final Thoughts on a Different Way to Look at Economic Processes.
