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Nonlinearity, Bounded Rationality, and Heterogeneity
Tamotsu Onozaki
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Description for Nonlinearity, Bounded Rationality, and Heterogeneity
hardcover. Num Pages: 180 pages, 30 black & white illustrations, 20 colour illustrations, biography. BIC Classification: KCA; KCL; KCS. Category: (P) Professional & Vocational. Dimension: 235 x 155. .
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. ... Read more
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. ... Read more
Product Details
Format
Hardback
Publication date
2018
Publisher
Springer Verlag, Japan Japan
Number of pages
180
Condition
New
Number of Pages
220
Place of Publication
Tokyo, Japan
ISBN
9784431549703
SKU
V9784431549703
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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