Complex Systems Modeling and Simulation in Economics and Finance

This title explores frontier research on complex economic systems, heterogeneous interacting agents, bounded rationality, and nonlinear dynamics in economics, with breakthroughs resulting from an interdisciplinary approach and simulation as a unifying theme. It is a valuable addition to promoting the complex systems view in economic science and serves as a resource for graduate courses and researchers.

\n Format: Hardback
\n Length: 307 pages
\n Publication date: 21 November 2018
\n Publisher: Springer International Publishing AG
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This title brings together cutting-edge research on complex economic systems, heterogeneous interacting agents, bounded rationality, and nonlinear dynamics in economics. The book contains the proceedings of the 21st Computing in Economics in Finance (CEF2015), held from 20 to 22 June 2015 in Taipei, Taiwan, and addresses some of the critical driving forces for various emergent properties in economies when viewed as complex systems. The breakthroughs reported in this book are a result of an interdisciplinary approach, and simulation remains the unifying theme for these papers as they deal with a wide range of topics in economics. The text is a valuable addition to the efforts in promoting the complex systems view in economic science. The computational experiments reported in the book are both transparent and replicable.

Complex System Modeling and Simulation in Economics and Finance is useful for graduate courses in complex systems, with particular focus on economics and finance. At the same time, it serves as a good overview for researchers interested in the topic.

The book is organized into five parts. Part I provides an introduction to complex systems theory and its application to economics and finance. It discusses the key concepts and principles of complex systems, such as emergence, self-organization, and complexity, and how they can be used to understand economic phenomena. Part II explores the modeling and simulation of complex economic systems. It discusses different modeling approaches, such as agent-based models, network models, and simulation-based models, and how they can be used to study the behavior of economic agents and systems. Part III focuses on the application of complex system modeling and simulation to economics and finance. It discusses the use of complex systems models to study economic crises, financial markets, and economic policy. Part IV explores the challenges and limitations of complex system modeling and simulation. It discusses the difficulties in capturing the complexity of real-world economic systems, the challenges in interpreting the results of simulation studies, and the need for interdisciplinary collaboration. Part V concludes the book by discussing the future directions of research in complex system modeling and simulation in economics and finance. It discusses the potential applications of complex systems theory to other fields, such as social science and biology, and the need for further development of simulation tools and techniques.

Overall, Complex System Modeling and Simulation in Economics and Finance is a comprehensive and timely book that provides a valuable contribution to the field of economics and finance. It is useful for both graduate students and researchers interested in understanding the behavior of complex economic systems and developing new models and techniques for analyzing and simulating these systems.

\n Weight: 622g\n
Dimension: 160 x 240 x 27 (mm)\n
ISBN-13: 9783319996226\n
Edition number: 1st ed. 2018\n