Overview
- Provides wide coverage of new scientific approaches to the dynamics of economy
- Explores the emerging properties now evolving in social complexity
- Includes contributions by leading researchers from all over the world
Part of the book series: Evolutionary Economics and Social Complexity Science (EESCS, volume 22)
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Table of contents (15 chapters)
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Front Matter
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Prof. Aoki’s Contribution and Beyond
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Front Matter
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Economic Agents and Interactions
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Front Matter
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Keywords
About this book
This book systematically provides a prospective integrated approach for complexity social science in its view of statistical physics and mathematics, with an impressive collection of the knowledge and expertise of leading researchers from all over the world. The book mainly covers both finitary methods of statistical equilibrium and data-driven analysis by econophysics.
The late Professor Masanao Aoki of UCLA, who passed away at the end of July 2018, in his later years dedicated himself to the reconstruction of macroeconomics mainly in terms of statistical physics. Professor Aoki, who was already an IEEE fellow, was also named an Econometric Society Fellow in 1979. Until the early 1990s, however, his contributions were focused on the new developments of a novel algorithm for the time series model and their applications to economic data. Those contributions were undoubtedly equivalent to the Nobel Prize-winning work of Granger's "co-integration method". Afterthe publications of his New Approaches to Macroeconomic Modeling and Modeling Aggregate Behavior and Fluctuations in Economics, both published by Cambridge University Press, in 1996 and 2002, respectively, his contributions rapidly became known and spread throughout the field. In short, these new works challenged econophysicists to develop evolutionary stochastic dynamics, multiple equilibria, and externalities as field effects and revolutionized the stochastic views of interacting agents. In particular, the publication of Reconstructing Macroeconomics, also by Cambridge University Press (2007), in cooperation with Hiroshi Yoshikawa, further sharpened the process of embodying “a perspective from statistical physics and combinatorial stochastic processes” in economic modeling. Interestingly, almost concurrently with Prof. Aoki’s newest development, similar approaches were appearing. Thus, those who were working in the same context around the world at that time cametogether, exchanging their results during the past decade. In memory of Prof. Aoki, this book has been planned by authors who followed him to present the most advanced outcomes of his heritage.
Editors and Affiliations
About the editors
Yuji Aruka, Faculty of Commerce, Chuo University
Hiroshi Yoshikawa, Faculty of Economics, Rissho University
Bibliographic Information
Book Title: Complexity, Heterogeneity, and the Methods of Statistical Physics in Economics
Book Subtitle: Essays in Memory of Masanao Aoki
Editors: Hideaki Aoyama, Yuji Aruka, Hiroshi Yoshikawa
Series Title: Evolutionary Economics and Social Complexity Science
DOI: https://doi.org/10.1007/978-981-15-4806-2
Publisher: Springer Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: Springer Nature Singapore Pte Ltd. 2020
Hardcover ISBN: 978-981-15-4805-5Published: 06 August 2020
Softcover ISBN: 978-981-15-4808-6Published: 07 August 2021
eBook ISBN: 978-981-15-4806-2Published: 05 August 2020
Series ISSN: 2198-4204
Series E-ISSN: 2198-4212
Edition Number: 1
Number of Pages: XIV, 321
Number of Illustrations: 49 b/w illustrations, 73 illustrations in colour
Topics: Institutional/Evolutionary Economics, Econometrics, Industrial Organization, Macroeconomics/Monetary Economics//Financial Economics, Logistics