Complexity Hints for Economic Policy (New Economic Windows)
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.
Keywords
ECONOMIC POLICY
2007Book
Author(s)David Colander, Massimo Salzano
PublisherSpringer
ISBN9788847005334
LanguageEnglish
