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: 978-88-470-5600-8
- Editorial: Springer
- Encuadernacion: Rústica
- Fecha Publicación: 30/10/2014
- Nº Volúmenes: 1
- Idioma: Inglés