Nonlinearity, Bounded Rationality, and Heterogeneity W. Vogel & M. Büttner GmbH Written in a self-contained style

Written in a self-contained style

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Nonlinearity, Bounded Rationality, and Heterogeneity W. Vogel & M. Büttner GmbH Written in a self-contained styleThis 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