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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
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Economic Evolution and Structural Adjustment: Proceedings of Invited Sessions on Economic Evolution and Structural Change Held at the 5th Internationa

Economic Evolution and Structural Adjustment: Proceedings of Invited Sessions on Economic Evolution and Structural Change Held at the 5th Internationa

Batten, David
Johansson, Börje
Casti, John L.

Paperback

Series: Lecture Notes in Economic and Mathematical Systems, Book 293

Economics

ISBN10: 3540181830
ISBN13: 9783540181835
Publisher: Springer
Published: Sep 9 1987
Pages: 387
Weight: 1.38
Height: 0.81 Width: 6.69 Depth: 9.61
Language: English
Since the beginning of the fifties, the ruling paradigm in the discipline of economics has been that of a competitive general equilibrium. Associated dynamic analyses have therefore been preoccupied with the stability of this equilibrium state, corresponding simply to studies of comparative statics. The need to permeate the boundaries of this paradigm in order to open up new pathways for genuine dynamic analysis is now pressing. The contributions contained in this volume spring from this very ambition. A growing circle of economists have recently been inspired by two distinct but complementary sources: (i) the pathbreaking work of Joseph Schumpeter, and (ii) recent contributions to physics, chemistry and theoretical biology. It turns out that problems which are firmly rooted in the economic discipline, such as innovation, technological change, business cycles and economic development, contain many clear parallels with phenomena from the natural sciences such as the slaving principle, adiabatic elimination and self-organization. In such dynamic worlds, adjustment processes and adaptive behaviour are modelled with the aid of the mathematical theory of nonlinear dynamical systems. The dynamics is defined for a much wider set of conditions or states than simply a set of competitive equilibria. A common objective is to study and classify ways in which the qualitative properties of each system change as the parameters describing the system vary.

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