Overview
Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 576)
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Table of contents (18 chapters)
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Front Matter
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Back Matter
Keywords
About this book
This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the corresponding stationary state equilibrium. Sufficient heterogeneity leads to global saddle-path stability, uniqueness of a given stationary state and the global uniqueness of the corresponding equilibrium. The variety and variance of agent capabilities is reflected in such constructions as culture, social relations, ideology, politics, and preferences that change continuously with historical development. Information variety is an efficacious companion of systemic variety, and can support the performance of an economy, and can be an economically efficient cradle for adaptation to environmental and individual change and systemic evolution.
Authors and Affiliations
Bibliographic Information
Book Title: Economic Dynamics and Information
Authors: Jaroslav Zajac
Series Title: Lecture Notes in Economics and Mathematical Systems
DOI: https://doi.org/10.1007/3-540-32695-2
Publisher: Springer Berlin, Heidelberg
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer-Verlag Berlin Heidelberg 2006
Softcover ISBN: 978-3-540-32694-6Published: 01 August 2006
eBook ISBN: 978-3-540-32695-3Published: 01 August 2007
Series ISSN: 0075-8442
Series E-ISSN: 2196-9957
Edition Number: 1
Number of Pages: X, 274
Topics: Economics, general, Mathematics, general, Economic Theory/Quantitative Economics/Mathematical Methods, Artificial Intelligence, Macroeconomics/Monetary Economics//Financial Economics