New Economic Windows

Coping with the Complexity of Economics

Editors: Faggini, Marisa, Lux, Thomas (Eds.)

Buy this book

eBook $84.99
price for USA (gross)
  • ISBN 978-88-470-1083-3
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $129.99
price for USA
  • ISBN 978-88-470-1082-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $109.99
price for USA
  • ISBN 978-88-470-5569-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

The purpose of the science of complexity is to provide, if not a unified approach, at least useful tools to tackling complex problems in various scientific domains. Generally, complexity is considered a fundamental challenge to the reductionist approach in science as a whole and to its ideas of certainty and randomness.

The overall behaviour of a complex system is different from and more than the sum of its parts. The behaviour of non-linear complex systems depends on the interaction (often with retroactive effects) among its constituent parts and not so much (or not only) on the characteristics of these parts themselves; the sum of the behaviour of single parts does not necessarily provide us with an explanation of the aggregate behaviour of a system.

All this is true for economic systems. These are based on the activities of single economic agents. Each individual can obtain only partial knowledge that is focussed around its "world" (local information) and react to external shocks in different ways (local rationality).

The aim of this book is to provide an overview to recent developments in theory and empirical research that view economic systems as complex phenomena whose aggregate dynamics can often not be inferred from its microscopic (microeconomic) building blocks. The collection of papers represented in this volume is dedicated to the memory of Massimo Salzano, who has been a fervent and eloquent advocate of the complexity approach.

The contributions have been presented at a conference held to celebrate Massimo’s 60th birthday (Ecople -Economics: From Tradition of Complexity, Capri, 2-4 June, 2006), one year before he unexpectedly passed away in 2007.

Table of contents (10 chapters)

  • Evolution of Trust in Economic Systems

    Bossomaier, Terry (et al.)

    Pages 3-18

  • Keynes, Hayek and Complexity

    Ormerod, Paul

    Pages 19-32

  • A look at the relationship between industrial dynamics and aggregate fluctuations

    Gatti, Domenico Delli (et al.)

    Pages 33-49

  • Quantum-like Viewpoint on the Complexity and Randomness of the Financial Market

    Choustova, Olga

    Pages 53-66

  • Classical and Quantum-Like Randomness and the Financial Market

    Khrennikov, Andrei

    Pages 67-77

Buy this book

eBook $84.99
price for USA (gross)
  • ISBN 978-88-470-1083-3
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $129.99
price for USA
  • ISBN 978-88-470-1082-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $109.99
price for USA
  • ISBN 978-88-470-5569-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Loading...

Recommended for you

Loading...

Bibliographic Information

Bibliographic Information
Book Title
Coping with the Complexity of Economics
Editors
  • Marisa Faggini
  • Thomas Lux
Series Title
New Economic Windows
Copyright
2009
Publisher
Springer-Verlag Mailand
Copyright Holder
Springer-Verlag Milan
eBook ISBN
978-88-470-1083-3
DOI
10.1007/978-88-470-1083-3
Hardcover ISBN
978-88-470-1082-6
Softcover ISBN
978-88-470-5569-8
Series ISSN
2039-411X
Edition Number
1
Number of Pages
XIV, 170
Topics