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
Citations
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Journal ArticleDOI
A Review of Robert Heilbroner's Contributions, in Memoriam 1919-2005
Lall Ramrattan,Michael Szenberg +1 more
TL;DR: Heilbroner, best known for taking the so-called ''dismal science'' and making it come to life, died on January 4, 2005 at the age of 85 as discussed by the authors.
Proceedings ArticleDOI
Genetic programming of fuzzy logic production rules
TL;DR: It is shown that genetic programming can be used to generate trees of fuzzy logic statements that optimise some external process, that these can be converted to natural language rules, and that these rules are easily comprehended by a lay audience.
Journal ArticleDOI
Business cycle asymmetries and non-linearities in U.K. macroeconomic time series
TL;DR: In this article, the authors empirically test for and model non-linearities in a selection of U.K. macroeconomic time series, focusing on business cycle asymmetry, using Markov chain models to investigate whether cycles in macroeconomic timeseries display symmetric behaviour on both sides of a peak or trough.
Journal ArticleDOI
Inverse limits, economics, and backward dynamics
Judy Kennedy,Judy Kennedy +1 more
TL;DR: The authors survey recent papers on the problem of backward dynamics in economics, providing along the way a glimpse at the economics perspective, a discussion of the economic models and mathematical tools involved, and a list of applicable literature in both mathematics and economics.
Journal ArticleDOI
Existence and uniqueness of growth cycles in post Keynesian systems
TL;DR: In this paper, the authors explore the existence and uniqueness of a limit cycle in a post Keynesian system in which investment is determined by the expected rate of profit and find that a periodic orbit appears if the marginal effect of the expected rates of profit on investment is strong enough and that it is unique limit cycle if the speed of revisions of expectation is fast enough.
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.