This book pursues a nonlinear approach in considering both chaotic dynamical models and agent-based simulation models of economics, as well as their dynamical behaviors. Three key concepts arising in this context are "nonlinearity," "bounded rationality" and "heterogeneity," which also make up the title of the book. Nonlinearity is the warp that runs throughout all models because systems that exhibit chaotic or other complex behavior in the absence of any exogenous disturbances are absolutely nonlinear. Bounded rationality ...
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This book pursues a nonlinear approach in considering both chaotic dynamical models and agent-based simulation models of economics, as well as their dynamical behaviors. Three key concepts arising in this context are "nonlinearity," "bounded rationality" and "heterogeneity," which also make up the title of the book. Nonlinearity is the warp that runs throughout all models because systems that exhibit chaotic or other complex behavior in the absence of any exogenous disturbances are absolutely nonlinear. Bounded rationality constitutes the woof, because economic systems do not exhibit complex behavior if all agents are perfectly rational, as is usually assumed in neoclassical economics. Agents who are boundedly rational have to struggle to do their best with limited information and tend to adapt to their economic environment without knowing what is the best. Furthermore, the heterogeneity of firms or consumers dyes the fabric of complex dynamics woven from the warp and woof.
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Add this copy of Nonlinearity, Bounded Rationality, and Heterogeneity: to cart. $93.93, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2019 by Springer Verlag, Japan.
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New. Print on demand Contains: Illustrations, black & white, Illustrations, color. XIII, 220 p. 80 illus., 22 illus. in color. Intended for professional and scholarly audience.
Add this copy of Nonlinearity, Bounded Rationality, and Heterogeneity: to cart. $122.11, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2018 by Springer Verlag, Japan.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
New. Print on demand Contains: Illustrations, black & white, Illustrations, color. XIII, 220 p. 80 illus., 22 illus. in color. Intended for professional and scholarly audience.
Add this copy of Nonlinearity, Bounded Rationality, and Heterogeneity: to cart. $123.44, good condition, Sold by Bonita rated 4.0 out of 5 stars, ships from Newport Coast, CA, UNITED STATES, published 2019 by Springer.
Add this copy of Nonlinearity, Bounded Rationality, and Heterogeneity to cart. $153.24, new condition, Sold by Ria Christie Books rated 5.0 out of 5 stars, ships from Uxbridge, MIDDLESEX, UNITED KINGDOM, published 2018 by Springer Verlag, Japan.
