Lecture Notes in Economics and Mathematical Systems

Economic Evolution and Structural Adjustment

Proceedings of Invited Sessions on Economic Evolution and Structural Change Held at the 5th International Conference on Mathematical Modelling at the University of California, Berkeley, California, USA July 29–31, 1985

Editors: Batten, David, Casti, John L, Johansson, Börje (Eds.)

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About this book

Since the beginning of the fifties, the ruling paradigm in the discipline of economics has been that of a competitive general equilibrium. Associated dynamic analyses have therefore been preoccupied with the stability of this equilibrium state, corresponding simply to studies of comparative statics. The need to permeate the boundaries of this paradigm in order to open up new pathways for genuine dynamic analysis is now pressing. The contributions contained in this volume spring from this very ambition. A growing circle of economists have recently been inspired by two distinct but complementary sources: (i) the pathbreaking work of Joseph Schumpeter, and (ii) recent contributions to physics, chemistry and theoretical biology. It turns out that problems which are firmly rooted in the economic discipline, such as innovation, technological change, business cycles and economic development, contain many clear parallels with phenomena from the natural sciences such as the slaving principle, adiabatic elimination and self-organization. In such dynamic worlds, adjustment processes and adaptive behaviour are modelled with the aid of the mathematical theory of nonlinear dynamical systems. The dynamics is defined for a much wider set of conditions or states than simply a set of competitive equilibria. A common objective is to study and classify ways in which the qualitative properties of each system change as the parameters describing the system vary.

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Buy this book

eBook $69.99 net
( price for USA )
  • ISBN 978-3-662-02522-2
  • digitally watermarked, no DRM
  • included format: PDF
  • eBooks can be used on all Reading Devices
Softcover $99.00 net
( price for USA )
  • ISBN 978-3-540-18183-5
  • free shipping for individuals worldwide
  • usually dispatched within 3 to 5 business days

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Bibliographic Information

Bibliographic Information
Book Title
Economic Evolution and Structural Adjustment
Book Subtitle
Proceedings of Invited Sessions on Economic Evolution and Structural Change Held at the 5th International Conference on Mathematical Modelling at the University of California, Berkeley, California, USA July 29–31, 1985
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
293
Copyright
1987
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-662-02522-2
DOI
10.1007/978-3-662-02522-2
Softcover ISBN
978-3-540-18183-5
Series ISSN
0075-8442
Edition Number
1
Topics