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Chaos, Complexity, and Nonlinear Economic Theory

Author

Listed:
  • Wei-Bin Zhang

    (Ritsumeikan Asia Pacific University, Japan)

Abstract

What do economic chaos and uncertainties mean in rational or irrational economic theories? How do simple deterministic interactions among a few variables lead to unpredictable complex phenomena? Why is complexity of economies causing so many conflicts and confusions worldwide?

Suggested Citation

  • Wei-Bin Zhang, 2023. "Chaos, Complexity, and Nonlinear Economic Theory," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 13173, August.
    • Handle: RePEc:wsi:wsbook:13173
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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/13173
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    More about this item

    Keywords

    Complexity Theory; Newtonian World Vision; Evolution of Economies; Complex Systems; Economic Dynamics; Nonlinear Science; Nonlinear Economics; Business Cycles; Structural Change; Strange Attractor; Economic Chaos; Bifurcation; Multiple Paths; Self-Organization; Lock-In; Path-Dependent Development; Multiple Equilibrium Points; General Economic Theory; Predictability; Uncertainty; Unpredictable; Bounded Rationality; Deterministic Economic Dynamics; Synergetic Economics; Catastrophe; Lorenz Equations; Rational and Irrational; Piecewise Smooth Dynamical System; Malthus Economics; Poverty Trap. Cobweb Model; Walrasian Economics; Marxian Economics; Keynesian Economics; Adam Smith's Economic Equilibrium; Solow Growth Model; Diamond Model; Uzawa–Lucas Model; Utility Function; Haavelmo Population Model; IS-LM Model; Money in Utility Function; Goodwin–Kalecki–Marx Model; Stackelburg Game; Dixit–Stiglitz Model; Oniki–Uzawa Model; Overlapping Generations Model; Ramsey Growth Model; Cournot Game; Learning-by-Doing; R&D; Capital Accumulation; Environmental Change; Stock Market; Neoclassical Economics; Neoclassical Growth Model; Mathematical Biology; Lotka–Volterra Model; Monopolistic Competition; Prey-Predator Model; International Trade; New Economic Growth Theory; Monopoly; Technological Change; Urban Dynamics; Redistribution of Income; Population Dynamics; Rational Expectation; Monetary Policy; Monetary Rule; Taylor Rule; Inflation;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • E7 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy

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