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Segismundo S. Izquierdo
University of Valladolid
Covering a wide range of economic applications, the book is especially useful as a source of inspiration for new ideas and research themes, as well as a repository of methodological references on the analysis of different kinds of dynamical systems: continuous and discrete, chaotic and non-chaotic, deterministic and stochastic.
The range of applications includes a large spectrum of issues on microeconomics, macroeconomics and finance. According to the editors, the variety of applications and methods "is intended to give some perspective on the growing literature in this field" (non linear dynamics). The main applications or motivating issues that can be found in the papers are: environment and resource conservation, sustainable economic growth, wealth distribution, stability of international agreements or coalitions, R&D investment decisions, duopoly competition, spatial distribution of firms, auctions, business cycles, macroeconomic models with imperfect competition and learning, macroeconomic disequilibrium, elections and behaviour of politicians, portfolio choice with disappointment aversion, financial market models, capital asset pricing with heterogeneous beliefs, and credit policy of commercial banks.
In most cases, the structure of the papers in the book is:
Among the papers with a more theoretical or methodological focus, Matsumoto and Szidarovszky ("Delay Differential Nonlinear Economic Model") present theoretical findings and illustrative examples on the effects of information delays on the behaviour of dynamic economic systems, and Huang ("Issues in Strategy-Switching Dynamics") analyses a particular revision protocol in finite populations in an evolutionary game theory context.
In summary, the book is specially interesting for researchers in economics and in the social sciences who want to approach and explore the field of applications of non linear dynamics, who are looking for ideas to develop new papers in this field, or who would like to have at their disposal a varied collection of practical methodological examples of analysis of models made up of systems of non linear difference or differential equations.
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© Copyright Journal of Artificial Societies and Social Simulation, 2010