Economic complexity and equilibrium illusion : essays on market instability and macro vitality / Ping Chen

By:

Chen, Ping

Material type: Text

TextSeries: Publication details: London : Routledge, 2016Description: xxxiv, 365p. ; 24cmISBN:

9780415746847

Subject(s):

DDC classification:

339.5 CHE 22

Summary: This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. The chapters are selected from works completed since 1987, including original research on evolutionary dynamics of division of labor, empirical and theoretical studies of economic chaos, and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenging by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs.

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Holdings
Item type	Current library	Call number	Status	Date due	Barcode	Item holds
Book	Calcutta	339.5 CHE (Browse shelf(Opens below))	Available		IIMC-0146759

Total holds: 0

This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. The chapters are selected from works completed since 1987, including original research on evolutionary dynamics of division of labor, empirical and theoretical studies of economic chaos, and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenging by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs.

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