Complexity Hints for Economic Policy

by Massimo Salzano (Editor), David Colander (Editor)

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.

334 pages, Hardcover

First published January 1, 2007