TY  - BOOK
AU  - Chen, Ping
TI  - Economic complexity and equilibrium illusion: essays on market instability and macro vitality
SN  - 9780415554756
U1  - 339.5  
PY  - 2010///
CY  - London
PB  - Routledge
KW  - Equilibrium (Economics) -Mathematical models
KW  - Business cycles - Mathematical models
KW  - Evolutionary economics
N1  - Includes bibliographical references and index
N2  - This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. The chapters are selected from works completed since 1987, including original research on evolutionary dynamics of division of labor, empirical and theoretical studies of economic chaos, and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenging by solid evidence of economic complexity and time asymmetry, including Friedman theory of exogenous money and efficient market, the Fri sch model of noise-driven cycles, the Lucas model of micro foundations and rational expectations, the Black-Sc holes model of option pricing, and the Coase theory of transaction costs. (http://www.routledge.com/books/details/9780415554756/)
ER  -