Chaos, Complexity, And Nonlinear Economic Theory

Wei-bin Zhang

ISBN 10: 9811267413 ISBN 13: 9789811267413
Verlag: World Scientific Publishing Company, 2023
Neu HRD

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Inhaltsangabe:

What do economic chaos and uncertainties mean in rational or irrational economic theories? How do simple deterministic interactions among a few variables lead to unpredictable complex phenomena? Why is complexity of economies causing so many conflicts and confusions worldwide? This book provides a comprehensive introduction to recent developments of complexity theory in economics. It presents different models based on well-accepted economic mechanisms such as the Solow model, Ramsey model, and Lucas model. It is focused on presenting complex behaviors, such as business cycles, aperiodic motion, bifurcations, catastrophes, chaos, and hidden attractors, in basic economic models with nonlinear behavior. It shows how complex nonlinear phenomena are identified from various economic mechanisms and theories. These models demonstrate that the traditional or dominant economic views on evolution of, for instance, capitalism market, free competition, or Keynesian economics, are not generally valid. Markets are unpredictable and nobody knows with certainty the consequences of policies or other external factors in economic systems with simple interactions.

Über die Autorin bzw. den Autor:

Wei-Bin Zhang is a Professor at Ritsumeikan Asia Pacific University, Japan since 2000. He graduated in 1982 from the Department of Geography, Peking University and obtained his Master degree from the Department of Civil Engineering, Kyoto University in 1987. He was invited to do research on economics at Umeå University in October 1987. He completed his dissertation on economic growth theory in June 1989 and obtained his PhD. Since then, he did research at the Swedish Institute for Futures Studies in Stockholm for 10 years. He was also a visiting scholar in USA, Japan, Mainland China, Austria, Singapore and Hong Kong before coming to Ritsumeikan Asia Pacific University. His main research fields are nonlinear economic dynamics (synergetic economics), economic theory, ancient Confucianism, trust and justice, and economic development and modernization of Chinese societies. He was sole author of 370 academic articles (220 in peer-reviewed international journals), he published 29 academic books in English by well-known international academic publishers, and one book on poetry (in Chinese) by a well-known publisher in the field. He is an editorial board member for 12 peer-reviewed international journals. Professor Zhang is the editor of Encyclopedia of Mathematical Models in Economics (in two volumes) as part of the unprecedented global effort on The Encyclopedia of Life Support Systems, organized by UNESCO.

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Bibliografische Details

Titel: Chaos, Complexity, And Nonlinear Economic ...
Verlag: World Scientific Publishing Company
Erscheinungsdatum: 2023
Einband: HRD
Zustand: New

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Zhang, Wei-bin
ISBN 10: 9811267413 ISBN 13: 9789811267413
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Hardcover. Zustand: Brand New. 228 pages. 9.00x6.00x0.56 inches. In Stock. Artikel-Nr. x-9811267413

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