Modeling Complexity In Economic And Social Systems

Author : Frank Schweitzer
Publisher : World Scientific
ISBN 13 : 9789812380357
Total Pages : 408 pages
Book Rating : 4.53/5 ( download)

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Download or read book Modeling Complexity in Economic and Social Systems written by Frank Schweitzer and published by World Scientific. This book was released on 2002 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics and the social sciences are, in fact, the ?hard? sciences, as Herbert Simon argued, because the complexity of the problems dealt with cannot simply be reduced to analytically solvable models or decomposed into separate subprocesses. Nevertheless, in recent years, the emerging interdisciplinary ?sciences of complexity? have provided new methods and tools for tackling these problems, ranging from complex data analysis to sophisticated computer simulations. In particular, advanced methods developed in the natural sciences have recently also been applied to social and economic problems.The twenty-one chapters of this book reflect this modern development from various modeling perspectives (such as agent-based models, evolutionary game theory, reinforcement learning and neural network techniques, time series analysis, non-equilibrium macroscopic dynamics) and for a broad range of socio-economic applications (market dynamics, technological evolution, spatial dynamics and economic growth, decision processes, and agent societies). They jointly demonstrate a shift of perspective in economics and the social sciences that is allowing a new outlook in this field to emerge.

Author : Dariusz Grech
Publisher : Springer
ISBN 13 : 9783030561628
Total Pages : 130 pages
Book Rating : 4.23/5 ( download)

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Download or read book Simplicity of Complexity in Economic and Social Systems written by Dariusz Grech and published by Springer. This book was released on 2021-11-23 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the Proceedings of the 54th Winter School of Theoretical Physics on Simplicity of Complexity in Economic and Social Systems, held in Lądek Zdrój, Poland, from 18 to 24 February 2018. The purpose of the book is to introduce the new interdisciplinary research that links statistical physics, and particular attention is given to link physics of complex systems, with financial analysis and sociology. The main tools used in these areas are numerical simulation of agents behavior and the interpretation of results with the help of complexity methods, therefore a background in statistical physics and in physics of phase transition is necessary to take the first steps towards these research fields called econophysics and sociophysics. In this perspective, the book is intended to graduated students and young researchers who want to begin the study of this established new area, which connects physicists, economists, sociologists and IT professionals, to better understand complexity phenomena existing not only in physics but also in complex systems being seemingly far from traditional view at physics.

Author : H. Deguchi
Publisher : Springer Science & Business Media
ISBN 13 : 4431539573
Total Pages : 270 pages
Book Rating : 4.75/5 ( download)

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Download or read book Economics as an Agent-Based Complex System written by H. Deguchi and published by Springer Science & Business Media. This book was released on 2011-06-28 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: In agent-based modeling the focus is very much on agent-based simulation, as simulation is a very important tool for agent-based modeling. We also use agent-based simulation in this book with a stress on the mathematical foundation of agent-based modeling. We introduce two original mathematical frameworks, a theory of SLD (Social Learning Dynamics) and an axiomatic theory of economic exchange (Exchange Algebra) among agents. Exchange algebra gives bottom-up reconstruction of SNA (System of National Accountings). SLD provides the concept of indirect control of socio-economic systems to manage structural change and its stability. We also compare agent-based simulation with gaming simulation and investigate the epistemological foundation of agent-based modeling.

Author : Dariusz Grech
Publisher : Springer Nature
ISBN 13 : 3030561607
Total Pages : 130 pages
Book Rating : 4.04/5 ( download)

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Download or read book Simplicity of Complexity in Economic and Social Systems written by Dariusz Grech and published by Springer Nature. This book was released on 2020-11-08 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the Proceedings of the 54th Winter School of Theoretical Physics on Simplicity of Complexity in Economic and Social Systems, held in Lądek Zdrój, Poland, from 18 to 24 February 2018. The purpose of the book is to introduce the new interdisciplinary research that links statistical physics, and particular attention is given to link physics of complex systems, with financial analysis and sociology. The main tools used in these areas are numerical simulation of agents behavior and the interpretation of results with the help of complexity methods, therefore a background in statistical physics and in physics of phase transition is necessary to take the first steps towards these research fields called econophysics and sociophysics. In this perspective, the book is intended to graduated students and young researchers who want to begin the study of this established new area, which connects physicists, economists, sociologists and IT professionals, to better understand complexity phenomena existing not only in physics but also in complex systems being seemingly far from traditional view at physics.

Author : Stanisław Drożdż
Publisher : MDPI
ISBN 13 : 3036507949
Total Pages : 534 pages
Book Rating : 4.41/5 ( download)

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Download or read book Complexity in Economic and Social Systems written by Stanisław Drożdż and published by MDPI. This book was released on 2021-05-11 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no term that better describes the essential features of human society than complexity. On various levels, from the decision-making processes of individuals, through to the interactions between individuals leading to the spontaneous formation of groups and social hierarchies, up to the collective, herding processes that reshape whole societies, all these features share the property of irreducibility, i.e., they require a holistic, multi-level approach formed by researchers from different disciplines. This Special Issue aims to collect research studies that, by exploiting the latest advances in physics, economics, complex networks, and data science, make a step towards understanding these economic and social systems. The majority of submissions are devoted to financial market analysis and modeling, including the stock and cryptocurrency markets in the COVID-19 pandemic, systemic risk quantification and control, wealth condensation, the innovation-related performance of companies, and more. Looking more at societies, there are papers that deal with regional development, land speculation, and the-fake news-fighting strategies, the issues which are of central interest in contemporary society. On top of this, one of the contributions proposes a new, improved complexity measure.

Author : John H. Miller
Publisher : Princeton University Press
ISBN 13 : 1400835526
Total Pages : 285 pages
Book Rating : 4.22/5 ( download)

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Download or read book Complex Adaptive Systems written by John H. Miller and published by Princeton University Press. This book was released on 2009-11-28 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the first clear, comprehensive, and accessible account of complex adaptive social systems, by two of the field's leading authorities. Such systems--whether political parties, stock markets, or ant colonies--present some of the most intriguing theoretical and practical challenges confronting the social sciences. Engagingly written, and balancing technical detail with intuitive explanations, Complex Adaptive Systems focuses on the key tools and ideas that have emerged in the field since the mid-1990s, as well as the techniques needed to investigate such systems. It provides a detailed introduction to concepts such as emergence, self-organized criticality, automata, networks, diversity, adaptation, and feedback. It also demonstrates how complex adaptive systems can be explored using methods ranging from mathematics to computational models of adaptive agents. John Miller and Scott Page show how to combine ideas from economics, political science, biology, physics, and computer science to illuminate topics in organization, adaptation, decentralization, and robustness. They also demonstrate how the usual extremes used in modeling can be fruitfully transcended.

Author : Shu-Heng Chen
Publisher : Springer Science & Business Media
ISBN 13 : 4431539077
Total Pages : 199 pages
Book Rating : 4.70/5 ( download)

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Download or read book Agent-Based Approaches in Economic and Social Complex Systems VI written by Shu-Heng Chen and published by Springer Science & Business Media. This book was released on 2011-01-12 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agent-based modeling/simulation is an emergent approach to the analysis of social and economic systems. It provides a bottom-up experimental method to be applied to social sciences such as economics, management, sociology, and politics as well as some engineering fields dealing with social activities. This book includes selected papers presented at the Sixth International Workshop on Agent-Based Approaches in Economic and Social Complex Systems held in Taipei in 2009. We have 39 presentations in the conference, and 14 papers are selected to be included in this volume. These 14 papers are then grouped into six parts: Agent-based financial markets; Financial forecasting and investment; Cognitive modeling of agents; Complexity and policy analysis; Agent-based modeling of good societies; and Miscellany. The research presented here shows the state of the art in this rapidly growing field.

Author : Wolfram Elsner
Publisher : Edward Elgar Publishing
ISBN 13 : 1781953406
Total Pages : 267 pages
Book Rating : 4.02/5 ( download)

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Download or read book Microeconomics of Interactive Economies written by Wolfram Elsner and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: A 'Non-Toxic' Intermediate Textbook 'Here, at last, we have the ideal textbook for microeconomics from an evolutionary and institutional perspective. Wolfram Elsner does nothing less than reconstruct the principles of microeconomics for a world of interactive business networks, change and innovation, crisis and uncertainty, as well as coordination problems and cooperative joint ventures. The publication of this book is a landmark event in microeconomics.' – Phillip A. O'Hara, Curtin University of Technology, Perth, Australia and President-Elect of AFEE, 2012 'This microeconomics textbook by Wolfram Elsner provides a timely alternative for understanding the micro roots of uncertainty, complexity and crisis. The evolutionary and institutional perspective sheds new light on contemporary issues such as clusters, networks, innovation and coordination. By reading this textbook, teachers, students and practitioners will open their minds to new economic thinking.' – Ping Chen, Peking University, Beijing, Fudan University, Shanghai, China and author of Economic Complexity and Equilibrium Illusion This thorough reconstruction of microeconomics 'post-2008' provides economic students with a new way of real-world understanding and strategic qualification that will be better appreciated by their future employers and any professional practice. It will prove essential for economic students and other social science programs at a graduate level. This accessible and engaging textbook includes: • A survey of the most famous core models of modern microeconomics including the neoclassical approach and its heterodox critiques – Sraffian, Institutionalist, Post-Keynesian and Mirowskian • An introduction to complexity thinking in economics • An introduction to game theory • An introduction to the methods of complex computer simulation • An introduction to strategic behavior • An newly integrated approach to real-world and complexity economics, rather than focusing on neoclassical ('perfect') market equilibrium 'plus a thousand recent extra things on top'. See the companion website – www.microeconomics.us – for teaching material, readings, exams and as a general guide to explore issues raised in the book.

Author : Dirk Helbing
Publisher : Springer
ISBN 13 : 3642240046
Total Pages : 343 pages
Book Rating : 4.41/5 ( download)

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Download or read book Social Self-Organization written by Dirk Helbing and published by Springer. This book was released on 2012-05-05 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the principles that keep our society together? This question is even more difficult to answer than the long-standing question, what are the forces that keep our world together. However, the social challenges of humanity in the 21st century ranging from the financial crises to the impacts of globalization, require us to make fast progress in our understanding of how society works, and how our future can be managed in a resilient and sustainable way. This book can present only a few very first steps towards this ambitious goal. However, based on simple models of social interactions, one can already gain some surprising insights into the social, ``macro-level'' outcomes and dynamics that is implied by individual, ``micro-level'' interactions. Depending on the nature of these interactions, they may imply the spontaneous formation of social conventions or the birth of social cooperation, but also their sudden breakdown. This can end in deadly crowd disasters or tragedies of the commons (such as financial crises or environmental destruction). Furthermore, we demonstrate that classical modeling approaches (such as representative agent models) do not provide a sufficient understanding of the self-organization in social systems resulting from individual interactions. The consideration of randomness, spatial or network interdependencies, and nonlinear feedback effects turns out to be crucial to get fundamental insights into how social patterns and dynamics emerge. Given the explanation of sometimes counter-intuitive phenomena resulting from these features and their combination, our evolutionary modeling approach appears to be powerful and insightful. The chapters of this book range from a discussion of the modeling strategy for socio-economic systems over experimental issues up the right way of doing agent-based modeling. We furthermore discuss applications ranging from pedestrian and crowd dynamics over opinion formation, coordination, and cooperation up to conflict, and also address the response to information, issues of systemic risks in society and economics, and new approaches to manage complexity in socio-economic systems. Selected parts of this book had been previously published in peer reviewed journals.

Author : Nicola Bellomo
Publisher : Springer Science & Business Media
ISBN 13 : 1461472423
Total Pages : 102 pages
Book Rating : 4.21/5 ( download)

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Download or read book Complex Systems and Society written by Nicola Bellomo and published by Springer Science & Business Media. This book was released on 2013-05-24 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work aims to foster the interdisciplinary dialogue between mathematicians and socio-economic scientists. Interaction among scholars and practitioners traditionally coming from different research areas is necessary more than ever in order to better understand many real-world problems we face today. On the one hand, mathematicians need economists and social scientists to better address the methodologies they design in a more realistic way; on the other hand, economists and social scientists need to be aware of sound mathematical modelling tools in order to understand and, ultimately, solve the complex problems they encounter in their research. With this goal in mind, this work is designed to take into account a multidisciplinary approach that will encourage the transfer of knowledge, ideas, and methodology from one discipline to the other. In particular, the work has three main themes: Demystifying and unravelling complex systems; Introducing models of individual behaviours in the social and economic sciences; Modelling socio-economic sciences as complex living systems. Specific tools examined in the work include a recently developed modelling approach using stochastic game theory within the framework of statistical mechanics and progressing up to modeling Darwinian evolution. Special attention is also devoted to social network theory as a fundamental instrument for the understanding of socio-economic systems.​