330.0151 A788
Complexity and the economy. --
Imp / Ed.:
New York, NY, Estados Unidos : Oxford Univeristy Press, c2015.
xxiv, 211 p. : il. ; 25 cm.
Preface. -- Acknowledgments. -- 1. Complexity economics: a different framework for economic thought. -- 2. Inductive reasoning and bounded rationality: The El Farol Problem. -- 3. Asset pricing under endogenous expectations in an artificial stock market. -- 4. Competing technologies, increasing returns, and lock-in by historical events. -- 5. Process and emergence in the economy. -- 6. All systems will be gamed: exploitive behavior in economic and social systems. -- 7. The evolution of technology within a simple computer model. -- 8. The economy evolving as its technologies evolve. -- 9. On the evolution of complexity. -- 10. Cognition: the black box of economics. -- 11. The end of certainty in economics. -- 12. Complexity and the economy. -- An historical footnote. -- Other papers on Complexity and the Economy. --
Tomado de la solapa: "As Arthur explains it, standard economics sees people in the economy as facing perfectly well-defined problems using perfect deductive reasoning and arriving at equilibrium outcomes; but complexity economics sees people as trying to make sense of the situations they face, exploring choices using whatever actions or strategies they have at hand. The resulting economy is not a perfectly ordered and rational system but an ecology of actions, forecasts, and strategies that are always changing and adapting to each other. In this book, Arthur collects many of his pioneering articles on this new theory. The papers, were among the first to use evolutionary computation, agent-based modeling, and cognitive psychology. They cover topics as disparate as how markets form out of forecasts and beliefs; how technology evolves over the long span of time; why systems and bureaucracies get more complicated as they evolve; and how financial meltdowns can be foreseen and prevented in the future."
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