Coping with the Complexity of Economics. 1st ed. 2009

種類:

電子ブック

責任表示:

edited by Marisa Faggini, Thomas Lux

出版情報:

Milano : Springer Milan : Imprint: Springer, 2009

著者名:

• Faggini, Marisa.
• Lux, Thomas.
• SpringerLink (Online service)

シリーズ名:

New Economic Windows ;

ISBN:

9788847010833 [8847010837]    

注記:

Evolution of Economic Systems -- Evolution of Trust in Economic Systems -- Keynes, Hayek and Complexity -- A look at the relationship between industrial dynamics and aggregate fluctuations -- Quantum Physics and Financial Markets -- Quantum-like Viewpoint on the Complexity and Randomness of the Financial Market -- Classical and Quantum-Like Randomness and the Financial Market -- New Empirical Approaches to Complex Economic Dynamics -- Examination of the Cost-of-Carry Formula for Futures Contracts on WIG20. Wavelet and Nonlinear Cointegration Analysis -- A Complex Approach to Estimate Shadow Economy: The Structural Equation Modelling -- Will house prices rise in 2007? A comparative assessment of house prices in London and Dublin -- Models of Risk Management and Decision Support -- Risk Measuremant and Fair Valuation Assessment in the Life Insurance Field -- Analysis of Qualitative and Quantitative Rankings in Multicriteria Decision Making.
The purpose of the science of complexity is to provide, if not a unified approach, at least useful tools to tackling complex problems in various scientific domains. Generally, complexity is considered a fundamental challenge to the reductionist approach in science as a whole and to its ideas of certainty and randomness. The overall behaviour of a complex system is different from and more than the sum of its parts. The behaviour of non-linear complex systems depends on the interaction (often with retroactive effects) among its constituent parts and not so much (or not only) on the characteristics of these parts themselves; the sum of the behaviour of single parts does not necessarily provide us with an explanation of the aggregate behaviour of a system. All this is true for economic systems. These are based on the activities of single economic agents. Each individual can obtain only partial knowledge that is focussed around its "world" (local information) and react to external shocks in different ways (local r

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