Optimization and Chaos

AvMukul Majumdar,Tapan Mitra

Inbunden, Engelska, 2000

Del i serien Studies in Economic Theory

1 666 kr

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Häftad

1 666 kr

Beskrivning

The book begins with an introduction to some of the basic concepts and results on chaotic dynamical systems. Next it turns to a detailed self-contained summary of the literature on discounted dynamic optimization. The first two chapters are of particular pedagogical interest. The volume also brings together a number of outstanding advanced research papers on complex behavior of dynamic economic models. These make it clear that complexity cannot be dismissed as "exceptional" or "pathological" and, for explanation and prediction of economic variables, it is imperative to develop models with special structures suggested by empirical studies. Graduate students in economics will find the book valuable for an introduction to optimization and chaos. Specialists will find new directions to explore themes like robustness of chaotic behavior and the role of discounting in generating cycles and complexity.

Produktinformation

Utgivningsdatum:2000-05-06
Mått:155 x 235 x 30 mm
Vikt:863 g
Format:Inbunden
Språk:Engelska
Serie:Studies in Economic Theory
Antal sidor:454
Upplaga:2000
Förlag:Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
ISBN:9783540670308

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Innehållsförteckning

1 Dynamical Systems: A Tutorial.- 2 Introduction to Dynamic Optimization Theory.- 3 Periodic and Chaotic Programs of Optimal Intertemporal Allocation in an Aggregative Model with Wealth Effects.- 4 Optimal Chaos, Nonlinearity, and Feasibility Conditions.- 5 The Local Bifurcation of Ramsey Equilibrium.- 6 On the Structure of Ramsey Equilibirum: Cycles, Indeterminacy and Sunspots.- 7 Robust Ergodic Chaos in Discounted Dynamic Optimization Models.- 8 Non-Linear Dynamics and Chaos in Optimal Growth: A Constructive Exposition.- 9 Ergodic Chaos in Optimal Growth Models with Low Discount Rates.- 10 On the Minimum Rate of Impatience for Complicated Optimal Growth Paths.- 11 An Exact Discount Factor Restriction for Period-Three Cycles in Dynamic Optimization Models.- 12 On the Least Upper Bound of Discount Factors that are Compatible with Optimal Period-Three Cycles.- 13 On the Relationship between Discounting and Entropy of Dynamic Optimization Models.- References.