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The Microeconomics of Complex Economies

The Microeconomics of Complex Economies

Evolutionary, Institutional, Neoclassical, and Complexity Perspectives

Hardback

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  • Release Date: 25/04/2014
  • Barcode: 9780124115859
  • Genre: Business & Finance
  • Imprint: Academic Press
  • Publisher: Elsevier
The Microeconomics of Complex Economies

The Microeconomics of Complex Economies

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DESCRIPTION

Evolutionary, Institutional, Neoclassical, and Complexity Perspectives
Presents an introduction to the Microeconomics of Complexity that uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. This book describes the usefulness of complex heterodox economics.
The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset. Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories.

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