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Complex Systems Approach to Economic Dynamics - Abraham C.-L. Chian
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Title
Complex Systems Approach to Economic Dynamics
Complex Systems Approach to Economic Dynamics
Author
Abraham C.-L. Chian
Abraham C.-L. Chian
format
Paperback / softback
Paperback / softback
Publisher
Springer
Springer
Language
English
English
UK Publication Date
20070713
20070713
Description
Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts of unstable periodic orbits and chaotic saddles, which are unstable structures embedded in a chaotic attractor and responsible for economic intermittency.
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