Qualitative Theory of Dynamical Systems, Tools and Applications for Economic Modelling

Qualitative Theory of Dynamical Systems, Tools and Applications for Economic Modelling
Author: Gian Italo Bischi
Publisher: Springer
Total Pages: 338
Release: 2016-06-02
Genre: Science
ISBN: 3319332767

The book presents the lectures delivered during a short course held at Urbino University in summer 2015 on qualitative theory of dynamical systems, included in the activities of the COST Action IS1104 “The EU in the new economic complex geography: models, tools and policy evaluation”. It provides a basic introduction to dynamical systems and optimal control both in continuous and discrete time, as well as some numerical methods and applications in economic modelling. Economic and social systems are intrinsically dynamic, characterized by interdependence, nonlinearity and complexity, and these features can only be approached using a qualitative analysis based on the study of invariant sets (equilibrium points, limit cycles and more complex attractors, together with the boundaries of their basins of attraction), which requires a trade-off between analytical, geometrical and numerical methods. Even though the early steps of the qualitative theory of dynamical systems have been in continuous time models, in economic and social modelling discrete time is often used to describe event-driven (often decision-driven) evolving systems. The book is written for Ph.D. and master’s students, post-doctoral fellows, and researchers in economics or sociology, and it only assumes a basic knowledge of calculus. However it also suggests some more advanced topics.

Qualitative Theory of Hybrid Dynamical Systems

Qualitative Theory of Hybrid Dynamical Systems
Author: Alexey S. Matveev
Publisher: Springer Science & Business Media
Total Pages: 362
Release: 2000-03-23
Genre: Mathematics
ISBN: 0817641416

The emerging area of hybrid dynamical systems lies at the interface of control theory and computer science, i.e., analogue 'and' digital aspects of systems. This new monograph presents state-of-the-art concepts, methods and tools for analyzing and describing hybrid dynamical systems.

Nonlinearity, Bounded Rationality, and Heterogeneity

Nonlinearity, Bounded Rationality, and Heterogeneity
Author: Tamotsu Onozaki
Publisher: Springer
Total Pages: 227
Release: 2018-01-28
Genre: Business & Economics
ISBN: 4431549714

This book pursues a nonlinear approach in considering both chaotic dynamical models and agent-based simulation models of economics, as well as their dynamical behaviors. Three key concepts arising in this context are “nonlinearity,” “bounded rationality” and “heterogeneity,” which also make up the title of the book. Nonlinearity is the warp that runs throughout all models because systems that exhibit chaotic or other complex behavior in the absence of any exogenous disturbances are absolutely nonlinear. Bounded rationality constitutes the woof, because economic systems do not exhibit complex behavior if all agents are perfectly rational, as is usually assumed in neoclassical economics. Agents who are boundedly rational have to struggle to do their best with limited information and tend to adapt to their economic environment without knowing what is the best. Furthermore, the heterogeneity of firms or consumers dyes the fabric of complex dynamics woven from the warp and woof.

The Economy as a Complex Spatial System

The Economy as a Complex Spatial System
Author: Pasquale Commendatore
Publisher: Springer
Total Pages: 227
Release: 2017-09-18
Genre: Science
ISBN: 3319656279

This book is open access under a CC BY-NC 4.0 license. This collected volume represents the final outcome of the COST Action IS1104 “The EU in the new complex geography of economic systems: models, tools and policy evaluation”. Visualizing the EU as a complex and multi-layered network, the book is organized in three parts, each of them dealing with a different level of analysis: At the macro-level, Part I considers the interactions within large economic systems (regions or countries) involving trade, workers migration, and other factor movements. At the meso-level, Part II discusses interactions within specific but wide-ranging markets, with a focus on financial markets and banking systems. Lastly, at the micro-level, Part III explores the decision-making of single firms, especially in the context of location decisions.

Dynamics, Games and Science II

Dynamics, Games and Science II
Author: Mauricio Matos Peixoto
Publisher: Springer Science & Business Media
Total Pages: 757
Release: 2011-05-27
Genre: Mathematics
ISBN: 3642147887

Dynamics, Games and Science I and II are a selection of surveys and research articles written by leading researchers in mathematics. The majority of the contributions are on dynamical systems and game theory, focusing either on fundamental and theoretical developments or on applications to modeling in biology, ecomonics, engineering, finances and psychology. The papers are based on talks given at the International Conference DYNA 2008, held in honor of Mauricio Peixoto and David Rand at the University of Braga, Portugal, on September 8-12, 2008. The aim of these volumes is to present cutting-edge research in these areas to encourage graduate students and researchers in mathematics and other fields to develop them further.

Quantitative Methods for Economics and Finance

Quantitative Methods for Economics and Finance
Author: J.E. Trinidad-Segovia
Publisher: MDPI
Total Pages: 418
Release: 2021-02-12
Genre: Business & Economics
ISBN: 3036501967

This book is a collection of papers for the Special Issue “Quantitative Methods for Economics and Finance” of the journal Mathematics. This Special Issue reflects on the latest developments in different fields of economics and finance where mathematics plays a significant role. The book gathers 19 papers on topics such as volatility clusters and volatility dynamic, forecasting, stocks, indexes, cryptocurrencies and commodities, trade agreements, the relationship between volume and price, trading strategies, efficiency, regression, utility models, fraud prediction, or intertemporal choice.

Geometric Theory of Discrete Nonautonomous Dynamical Systems

Geometric Theory of Discrete Nonautonomous Dynamical Systems
Author: Christian Pötzsche
Publisher: Springer Science & Business Media
Total Pages: 422
Release: 2010-09-17
Genre: Mathematics
ISBN: 3642142575

The goal of this book is to provide an approach to the corresponding geometric theory of nonautonomous discrete dynamical systems in infinite-dimensional spaces by virtue of 2-parameter semigroups (processes).

Topological Dynamics of Random Dynamical Systems

Topological Dynamics of Random Dynamical Systems
Author: Nguyen Dinh Cong
Publisher: Oxford University Press
Total Pages: 216
Release: 1997
Genre: Mathematics
ISBN: 9780198501572

This book is the first systematic treatment of the theory of topological dynamics of random dynamical systems. A relatively new field, the theory of random dynamical systems unites and develops the classical deterministic theory of dynamical systems and probability theory, finding numerous applications in disciplines ranging from physics and biology to engineering, finance and economics. This book presents in detail the solutions to the most fundamental problems of topological dynamics: linearization of nonlinear smooth systems, classification, and structural stability of linear hyperbolic systems. Employing the tools and methods of algebraic ergodic theory, the theory presented in the book has surprisingly beautiful results showing the richness of random dynamical systems as well as giving a gentle generalization of the classical deterministic theory.