Journal ArticleDOI
Chaotic dynamics: theory and applications to economics, by Alfredo Medio in collaboration with Giampaolo Gallo. Pp 344. £35. 1993. ISBN 0-521-39488-0; (Accompanying Disk ISBN 0-521-42107-1. £30 MSDOS or Apple Mac). (Cambridge University Press)
TLDR
This book introduces chaos and economics in a continuous-time model of inventory business cycles and applications to Economics, and discusses the role of software in this transformation.Abstract:
Preface Part I. Theory: 1. General introduction: chaos and economics 2. Basic mathematical concepts 3. A user's guide 4. Surfaces of sections and Poincare maps 5. Spectral analysis 6. Lyapunov characteristic exponents 7. Dimensions 8. Symbolic dynamics 9. Transition to chaos: theoretical predictive criteria 10. Analysis of experimental signals: some theoretical problems Part II. Applications to Economics: 11. Discrete and continuous chaos 12. Cycles and chaos in overlapping generations models with production 13. Chaos in a continuous-time model of inventory business cycles 14. Analysis of experimental signals Part III. Software: 15. DMC manual 16. MODEL 17. EVAL 18. PLOT 19. STAT 20. FILES 21. UTIL 22. OPTS 23. QUIT 24. Internal menu commands 25. DMC internal compiler.read more
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Posted Content
Center Manifold, Stability, and Bifurcations in Continuous Time Macroeconometric Systems
William Barnett,Yijun He +1 more
TL;DR: In this article, the stability properties and bifurcation boundaries of the UK continuous-time macroeconometric model were investigated. But they did not investigate the dynamical properties of the model on the Hopf boundary.
Journal ArticleDOI
Regional Development Theories and Formalised Economic Approaches: An Evolving Relationship
TL;DR: In this article, the authors revisited, in a diachronic perspective, the evolution of the relationship between regional development theories, on the one hand, and formalised economic models on the other, and presented a regional macroeconomic growth model, called MASST (macroeconomic, sectoral, social and territorial), able to merge the richness of the conceptual, qualitative, approaches interpreting the complexity of economic phenomena taking place at territorial (local) level with the rigour and the precision of the formalised, analytical, models.
Journal ArticleDOI
Environmental standards and Cournot duopoly: a stability analysis
TL;DR: In this paper, the dynamic effects of public environmental policies are investigated in a Cournot duopoly with both heterogeneous and homogeneous expectations in a context of limited rationality, and it is shown that the increase in upper limits to emissions always tends to destabilise markets and generate a chaotic market dynamics in both cases.
Posted Content
The Dynamics of Market Share's Growth and Competition in Quadratic Mappings
TL;DR: In this article, the observed output of any market, placed within the confine of a quadratic map, can characterize the state of that market and explain the process of market share's growth and its pitfalls, the consequences of broken symmetry of scaling, and the limits of firms' competition for market shares.
Posted Content
Short-term Dependence in Time Series as an Index of Complexity: Example from the S&P-500 Index
TL;DR: In this article, it has been found experimentally that the stock market is a reflexive dynamical input/output construct whose output (time series) is usually assessed by an index of roughness known as Hurst's exponent (H).
References
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Book ChapterDOI
Chapter 23 Heterogeneous Agent Models in Economics and Finance
TL;DR: A survey of dynamic heterogeneous agent models (HAMs) in economics and finance can be found in this paper, where the authors focus on simple models that are tractable by analytic methods in combination with computational tools.
MonographDOI
Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems
TL;DR: In this paper, the nonlinear cobweb model with heterogeneous expectations was proposed and empirically validated in a laboratory experiment, and an asset pricing model was proposed with heterogenous beliefs.
Book
Time-Series Analysis and Cyclostratigraphy: Examining Stratigraphic Records of Environmental Cycles
TL;DR: This work Constructing time series in cyclostratigraphy with a focus on environmental cycles recorded stratigraphically and additional methods of time-series analysis.
CapitalLabor Substitution and Competitive Nonlinear Endogenous Business Cycles
TL;DR: In this article, simple geometrical methods were developed to study local indeterminacy, bifurcations and stochastic (sunspot) equilibria near a steady state, in nonlinear two dimensional economic models.
Journal ArticleDOI
Testing for non-linear structure in an artificial financial market
TL;DR: In this paper, the authors present a stochastic simulation model of a prototype financial market, which is populated by both noise traders and fundamentalist speculators, and explore the behavior of the model when testing for the presence of chaos or non-linearity in the simulated data.