9783540686620 - Economic Evolution and Equilibrium: Bridging the Gap (Lecture Notes in Economics and Mathematical Systems, 591, Band 591) von Lehmann-Waffenschmidt, Marco (7 Ergebnisse)

Softcover/Paperback. Zustand: Sehr gut. 284 p. Very good. Shrink wrapped. / Sehr guter Zustand. In Folie verschweißt. Sprache: Englisch Gewicht in Gramm: 478.

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Paperback. Zustand: Brand New. 1st edition. 272 pages. 9.25x6.25x0.75 inches. In Stock.

Kartoniert / Broschiert. Zustand: New. Includes supplementary material: sn.pub/extrasThis work uses various model frameworks to study the evolution of equilibria in an open loop evolving economy in which the model characteristics evolve without any directional restrictions except f.

Taschenbuch. Zustand: Neu. Economic Evolution and Equilibrium | Bridging the Gap | Marco Lehmann-Waffenschmidt | Taschenbuch | viii | Englisch | 2007 | Springer | EAN 9783540686620 | Verantwortliche Person für die EU: Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg, juergen[dot]hartmann[at]springer[dot]com | Anbieter: preigu.

Taschenbuch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - theory,whichformalizesa dynamiceconomicsystemasa systemofdi erence, or di erential, equations. There equilibria mean 'equilibrium trajectories' of the whole evolution that, in a certain sense, are optimal. A particularly un- tisfactory feature of this conceptualization of an equilibrium, however, is the factthattheintertemporaloptimizingapproachcompletelypredetermi nesthe whole future of the economic system. This 'closed loop' approach gives rise to the common reproach that economic theory is predominantly concerned with the question of 'how the economic system ought to behave' rather than with the question of 'how does it behave actually'. This is the point at which the new branch of evolutionary economics has made its entrance. In contrast to growth or business cycle theory, evolutionary economics perceives the evolution of the economic system as essentially 'open' to true novelties that are unforeseeable by their very nature. This view clearly makes obsolete any conception of equilibrium that resorts to the idea of a nal state of rest, or to the idea of an intertemporally optimizing trajectory which is prespeci ed ab initio by a system of di erential equations and initial con- tions. To be sure, there have been attempts to reconceptualize the notion of equilibrium from the evolutionary viewpoint. However, these proposals also appear, in one way or another, to hinge on the ideas of rest. This parti- larly applies to the branch of nonlinear dynamics and deterministic chaotic motion.

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