The Economy as an Evolving Complex System: The Proceedings of the Evolutionary Paths of the Global Economy Workshop, Held September, 1987 in Santa Fe, New Mexico

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Philip W. Anderson, Kenneth Joseph Arrow, David Pines, Santa Fe Institute (Santa Fe, N.M.)
Westview Press, Jan 1, 1988 - Business & Economics - 317 pages
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This book proceeds from a meeting at the Santa Fe Institute where economists and physical and biological scientists came together to discuss a conceptual framework incorporating a more appropriate mathematics with a greatly strengthened capacity to deal simultaneously with multiple variables, nonlinearity, incomplete information and dynamical processes.
 

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Contents

David Pines
3
SelfReinforcing Mechanisms in Economics
9
Neural Nets for Economists
33
for a Survey
49
Nonlinearity and Complex Dynamics in Economics
77
Can New Approaches to Nonlinear Modeling Improve
99
The Global Economy as an Adaptive Process
117
The Evolution of Economic Webs
125
Can Nonlinear Dynamics Help Economists?
195
Rational Expectations Game Theory and Inflationary Inertia
205
Techniques and Webs
245
Final Plenary Discussion
257
An Overview of
265
A Note
285
Lyapunov Exponents for Stock Returns
301
Summary of Meeting on International Finance as a Complex
307

Computation and Multiplicity of Economic Equilibria
147
A Simple Model for Dynamics away from Attractors
169
Statistical Mechanics Approaches to Complex Optimization
177
Index
313
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About the author (1988)

David Pines is research professor of physics at the University of Illinois at Urbana-Champaign. He has made pioneering contributions to an understanding of many-body problems in condensed matter and nuclear physics, and to theoretical astrophysics. Editor of Perseus’ Frontiers in Physics series and former editor of American Physical Society’s Reviews of Modern Physics, Dr. Pines is a member of the National Academy of Sciences, the American Philosophical Society, a foreign member of the USSR Academy of Sciences, a fellow of the American Academy of Arts and Sciences, and of the American Association for the Advancement of Science. Dr. Pines has received a number of awards, including the Eugene Feenberg Memorial Medal for Contributions to Many-Body Theory; the P.A.M. Dirac Silver Medal for the Advancement of Theoretical Physics; and the Friemann Prize in Condensed Matter Physics.

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