- A rational route to randomness
- Book title
- Complexity in Economics Volume I. Methodology, interacting agents and microeconomic models
- Pages (from-to)
- Number of pages
- Cheltenham, Northhampton: Edward Elgar Publishing
- Document type
- Faculty of Economics and Business (FEB)
- Amsterdam School of Economics Research Institute (ASE-RI)
- Complex dynamics in economics arise from nonlinear systems that do not converge to a fixed point, a limit cycle, or explode or implode exponentially due to endogenous factors. They arise from cybernetics, catastrophe theory, chaos theory, or the varieties of modern complexity theory, including models with heterogeneous, interacting agents. This major three-volume collection presents the most important papers in the area of complexity in economics.
- Reprinted from Econometrica, 65, 1059-195 (1997)
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