Coping with the complexity of economics: [essays in honour of Massimo Salzano]
The purpose of the science of complexity is to provide, if not a unified approach, at least useful tools to tackling complex problems in various scientific domains. Generally, complexity is considered a fundamental challenge to the reductionist approach in science as a whole and to its ideas of cert...
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| Other Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Milano [u.a.]
Springer Italia
2009
|
| Series: | New Economic Windows
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Summary: | The purpose of the science of complexity is to provide, if not a unified approach, at least useful tools to tackling complex problems in various scientific domains. Generally, complexity is considered a fundamental challenge to the reductionist approach in science as a whole and to its ideas of certainty and randomness. The overall behavior of a complex system is different from and more than the sum of its parts. The behavior of non-linear complex systems depends on the interaction (often with retroactive effects) among its constituent parts and not so much (or not only) on the characteristics of these parts themselves; the sum of the behavior of single parts does not necessarily provide us with an explanation of the aggregate behavior of a system. All this is true for economic systems.These are based on the activities of single economic agents. Each individual can obtain only partial knowledge that is focused around its 'world' (local information) and react to external shocks in different ways (local rationality). The aim of this book is to provide an overview to recent developments in theory and empirical research that view economic systems as complex phenomena whose aggregate dynamics can often not be inferred from its microscopic (microeconomic) building blocks. The collection of papers represented in this volume is dedicated to the memory of Massimo Salzano, who has been a fervent and eloquent advocate of the complexity approach. The contributions have been presented at a conference held to celebrate Massimo's 60th birthday (Ecople -Economics: From Tradition of Complexity, Capri, 2-4 June, 2006), one year before he unexpectedly passed away in 2007. |
| Item Description: | Literaturangaben |
| Physical Description: | XIV, 170 S. graph. Darst. |
| ISBN: | 9788847010826 |
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Contents
Part I Evolution of Economic Systems
Evolution of Trust in Economic Systems
Terry Bossomaier, Mike
Harre,
James Thompson
. 3
Key
nes,
Hayek and Complexity
Paul Ormerod
. 19
A look at the relationship between industrial dynamics
and aggregate fluctuations
Domenico
Delii
Gatti, Edoardo Gaffeo, Mauro Gallegati
. 33
Part II
Quantum
Physics and
Financial
Markets
Quantum-like Viewpoint on the Complexity and
Randomness of the Financial Market
Olga Choustova. 53
Classical and Quantum-Like Randomness and the
Financial Market
Andrei Khrennikov
. 67
Part III New Empirical Approaches to Complex Economic
Dynamics
Examination of the Cost-of-Carry Formula for
Futures Contracts on WIG20. Wavelet and Nonlinear
Cointegration
Analysis
XII Contents
Joanna Bruzda
. 81
A
Complex
Approach to Estimate Shadow Economy:
The Structural Equation Modelling
Roberto
Dell'Anno, Friedrich
Schneider
.
Ill
Will house prices rise in
2007?
A comparative
assessment of house prices in London and Dublin
Peter Richmond
.131
Part IV Models of Risk Management and Decision Support
Risk Measuremant and Fair Valuation Assessment in
the Life Insurance Field
Mariarosaria
Coppola, Valeria
D'Amato,
Emilia
di
Lorenzo,
Marilena
Sibilio.
149
Analysis of Qualitative and Quantitative Rankings in
Multicriteria Decision Making
Livia D'Apuzzo,
Gabriella Marcarelli,
Massimo
Squillante
.157 |
| adam_txt |
Contents
Part I Evolution of Economic Systems
Evolution of Trust in Economic Systems
Terry Bossomaier, Mike
Harre,
James Thompson
. 3
Key
nes,
Hayek and Complexity
Paul Ormerod
. 19
A look at the relationship between industrial dynamics
and aggregate fluctuations
Domenico
Delii
Gatti, Edoardo Gaffeo, Mauro Gallegati
. 33
Part II
Quantum
Physics and
Financial
Markets
Quantum-like Viewpoint on the Complexity and
Randomness of the Financial Market
Olga Choustova. 53
Classical and Quantum-Like Randomness and the
Financial Market
Andrei Khrennikov
. 67
Part III New Empirical Approaches to Complex Economic
Dynamics
Examination of the Cost-of-Carry Formula for
Futures Contracts on WIG20. Wavelet and Nonlinear
Cointegration
Analysis
XII Contents
Joanna Bruzda
. 81
A
Complex
Approach to Estimate Shadow Economy:
The Structural Equation Modelling
Roberto
Dell'Anno, Friedrich
Schneider
.
Ill
Will house prices rise in
2007?
A comparative
assessment of house prices in London and Dublin
Peter Richmond
.131
Part IV Models of Risk Management and Decision Support
Risk Measuremant and Fair Valuation Assessment in
the Life Insurance Field
Mariarosaria
Coppola, Valeria
D'Amato,
Emilia
di
Lorenzo,
Marilena
Sibilio.
149
Analysis of Qualitative and Quantitative Rankings in
Multicriteria Decision Making
Livia D'Apuzzo,
Gabriella Marcarelli,
Massimo
Squillante
.157 |
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| spelling | Coping with the complexity of economics [essays in honour of Massimo Salzano] Marisa Faggini ... (eds.) Milano [u.a.] Springer Italia 2009 XIV, 170 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier New Economic Windows Literaturangaben The purpose of the science of complexity is to provide, if not a unified approach, at least useful tools to tackling complex problems in various scientific domains. Generally, complexity is considered a fundamental challenge to the reductionist approach in science as a whole and to its ideas of certainty and randomness. The overall behavior of a complex system is different from and more than the sum of its parts. The behavior of non-linear complex systems depends on the interaction (often with retroactive effects) among its constituent parts and not so much (or not only) on the characteristics of these parts themselves; the sum of the behavior of single parts does not necessarily provide us with an explanation of the aggregate behavior of a system. All this is true for economic systems.These are based on the activities of single economic agents. Each individual can obtain only partial knowledge that is focused around its 'world' (local information) and react to external shocks in different ways (local rationality). The aim of this book is to provide an overview to recent developments in theory and empirical research that view economic systems as complex phenomena whose aggregate dynamics can often not be inferred from its microscopic (microeconomic) building blocks. The collection of papers represented in this volume is dedicated to the memory of Massimo Salzano, who has been a fervent and eloquent advocate of the complexity approach. The contributions have been presented at a conference held to celebrate Massimo's 60th birthday (Ecople -Economics: From Tradition of Complexity, Capri, 2-4 June, 2006), one year before he unexpectedly passed away in 2007. Complexity (Philosophy) Economics Wirtschaft Komplexes System (DE-588)4114261-5 gnd rswk-swf Wirtschaft (DE-588)4066399-1 gnd rswk-swf (DE-588)4143413-4 Aufsatzsammlung gnd-content Wirtschaft (DE-588)4066399-1 s DE-604 Komplexes System (DE-588)4114261-5 s Faggini, Marisa edt Lux, Thomas 1962- (DE-588)130582387 edt Erscheint auch als Online-Ausgabe 978-88-470-1083-3 Digitalisierung UB Bamberg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016765593&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Coping with the complexity of economics [essays in honour of Massimo Salzano] Complexity (Philosophy) Economics Wirtschaft Komplexes System (DE-588)4114261-5 gnd Wirtschaft (DE-588)4066399-1 gnd |
| subject_GND | (DE-588)4114261-5 (DE-588)4066399-1 (DE-588)4143413-4 |
| title | Coping with the complexity of economics [essays in honour of Massimo Salzano] |
| title_auth | Coping with the complexity of economics [essays in honour of Massimo Salzano] |
| title_exact_search | Coping with the complexity of economics [essays in honour of Massimo Salzano] |
| title_exact_search_txtP | Coping with the complexity of economics [essays in honour of Massimo Salzano] |
| title_full | Coping with the complexity of economics [essays in honour of Massimo Salzano] Marisa Faggini ... (eds.) |
| title_fullStr | Coping with the complexity of economics [essays in honour of Massimo Salzano] Marisa Faggini ... (eds.) |
| title_full_unstemmed | Coping with the complexity of economics [essays in honour of Massimo Salzano] Marisa Faggini ... (eds.) |
| title_short | Coping with the complexity of economics |
| title_sort | coping with the complexity of economics essays in honour of massimo salzano |
| title_sub | [essays in honour of Massimo Salzano] |
| topic | Complexity (Philosophy) Economics Wirtschaft Komplexes System (DE-588)4114261-5 gnd Wirtschaft (DE-588)4066399-1 gnd |
| topic_facet | Complexity (Philosophy) Economics Wirtschaft Komplexes System Aufsatzsammlung |
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