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Economic complexity and equilibrium illusion: essays on market instability and macro vitality

By: Material type: TextTextSeries: Routledge frontiers of political economy no., 130Publication details: London Routledge 2010 Description: xxxiv, 365 pISBN:
  • 9780415554756
Subject(s): DDC classification:
  • 339.5
Summary: 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/)
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Item type Current library Item location Shelving location Call number Status Date due Barcode
Books Vikram Sarabhai Library Rack 24-B / Slot 1058 (0 Floor, East Wing) General Stacks 339.5 C4E2 (Browse shelf(Opens below)) Available 171386

Includes bibliographical references and index

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/)

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