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What´s new and useful about chaos in economic science

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Fernández Díaz, Andres and Escot Mangas, Lorenzo and Grau Carles, Pilar (2012) What´s new and useful about chaos in economic science. [ Cuadernos de Trabajo de la Escuela Universitaria de Estadística; nº 2/2012, ]

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Official URL: http://estudiosestadisticos.ucm.es/data/cont/docs/12-2013-02-06-CT03_2012.pdf



Abstract

La complejidad es una de las propiedades características del comportamiento económico. En este trabajo se exponen los principales conceptos y técnicas de la teoría del caos, analizando las distintas áreas de la ciencia económica desde el punto de vista de la complejidad y el caos.

[ABSTRACT] Complexity is one of the most important characteristic properties of the economic behaviour. The new field of knowledge called Chaotic Dynamic Economics born precisely with the objective of understanding, structuring and explaining in an endogenous way such complexity. In this paper, and after scanning the principal concepts and techniques of the chaos theory, we analyze, principally, the different areas of Economic Science from the point of view of complexity and chaos, the main and most recent researches, and the present situation about the results and possibilities of achieving an useful application of those techniques and concepts in our field.


Item Type:Working Paper or Technical Report
Uncontrolled Keywords:Chaos, Complexity, Nonlinearities, Theory of Catastrophes, Lyapunov Exponents, Fractals, Attractors, Bifurcation, Chaotic modelling, Controlling Chaos
Subjects:Sciences > Statistics > Econometrics
Social sciences > Economics > Economics
Series Name:Cuadernos de Trabajo de la Escuela Universitaria de Estadística
Volume:
Number:2/2012
ID Code:23364
Deposited On:28 Oct 2013 12:00
Last Modified:06 May 2014 13:09

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