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.
| ISBN-13: | 9788847005334 |
| ISBN-10: | 8847005337 |
| Publisher: | Springer |
| Publication date: | 2007-02-19 |
| Edition description: | 2007 |
| Pages: | 334 |
| Product dimensions: | Height: 9.21 Inches, Length: 6.14 Inches, Weight: 1.60496526736 Pounds, Width: 0.81 Inches |
| Author: | Massimo Salzano, David Colander |
| Language: | en |
| Binding: | Hardcover |
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