Code: 01966761

Complexity Hints for Economic Policy

Name: Complexity Hints for Economic Policy
Brand: Springer Verlag
SKU: 01966761
Price: 120.90 EUR
Availability: InStock

by David Colander, Massimo Salzano

Language: English
Binding: Hardback
Number of pages: 311
Publisher: Springer Verlag, 2007
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Book synopsis

This book considers the benefits of complexity, suggesting that economists should become a bit less certain in their policy conclusions. A broader range of models would include agent-based models, which use computational power to deal with specification of models that are far beyond analytic solution; and non-linear dynamic stochastic models, many of which are beyond analytic solution, but whose nature can be discovered by a combination of analytics and computer simulations.