Complexity Hints for Economic Policy |
|
| Editor:
| Salzano, Massimo
Colander, David |
| Series title: | New Economic Windows Ser. |
| ISBN: | 978-88-470-0533-4 |
| Publication Date: | Feb 2007 |
| Publisher: | Springer Milan
|
| Imprint: | Springer |
| Book Format: | Hardback |
| List Price: | USD $109.99 |
Book Description:
|
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.
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.