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Synergetic Economics

Time and Change in Nonlinear Economics

  • Book
  • © 1991

Overview

Authors:
  1. Wei-Bin Zhang

    1. Institute for Futures Studies, Stockholm, Sweden

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Part of the book series: Springer Series in Synergetics (SSSYN, volume 53)

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Table of contents (11 chapters)

  1. Front Matter

    Pages I-XV
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  2. Introduction

    • Wei-Bin Zhang
    Pages 1-6

  3. Time and Change in Economics

    • Wei-Bin Zhang
    Pages 7-14

  4. Mathematical Aspects of Dynamic Systems

    • Wei-Bin Zhang
    Pages 15-47

  5. Multiple Equilibria and Structural Changes in Economic Systems

    • Wei-Bin Zhang
    Pages 48-67

  6. Economic Cycles

    • Wei-Bin Zhang
    Pages 68-105

  7. Economic Chaos in Deterministic Systems

    • Wei-Bin Zhang
    Pages 106-131

  8. Stochastic Processes and Economic Evolution

    • Wei-Bin Zhang
    Pages 132-160

  9. Urban Pattern Formation Process — Stability, Structural Changes and Chaos

    • Wei-Bin Zhang
    Pages 161-192

  10. The Haken Slaving Principle and Time Scale in Economic Analysis

    • Wei-Bin Zhang
    Pages 193-212

  11. Implications of Synergetic Economics

    • Wei-Bin Zhang
    Pages 213-227

  12. Conclusions and Prospects for Further Research

    • Wei-Bin Zhang
    Pages 228-229

  13. Back Matter

    Pages 231-246
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Keywords

About this book

Synergetic Economics presents a new advance in analytical economics. It deals with problems related to time and change in economic systems, including complex aspects, such as the effects of nonlinearity, instability, bifurcation and chaos in economic evolution. The author argues that economic systems may run through a hierarchy of instabilities in which more and more structural patterns evolve. Such instabilities are caused by changes in the external parameters of the system. They may lead to new spatial-temporal patterns of the system. A number of explicit examples are provided to show how such behavior can occur in various dynamic economic systems. Analytical methods are also presented to cope with nonlinear problems. Of particular interest are sudden (structural) changes, the existence of regular and irregular oscillations, the role of random factors in economic evolution, and the effects of time scales and rates of adjustment of economic variables in economic analysis. The author carefully examines the implications of nonlinear phenomena for decision making, and for economic development in general.

Authors and Affiliations

  • Institute for Futures Studies, Stockholm, Sweden

    Wei-Bin Zhang

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