Nonlinear dynamics of financial crises : how to predict discontinuous decisions / Ionut Purica.

Format:

Book

Author/Creator:

Purica, Ionut, author.

Language:

English

Subjects (All):

Economics--Decision making--Mathematical models.

Economics.

Financial crises.

Nonlinear theories.

Physical Description:

1 online resource (125 p.)

Edition:

1st ed.

Place of Publication:

Amsterdam, [Netherlands] : Academic Press, 2015.

Language Note:

English

Summary:

When just a handful of economists predicted the 2008 financial crisis, people should wonder how so many well educated people with enormous datasets and computing power can be so wrong. In this short book Ionut Purica joins a growing number of economists who explore the failings of mainstream economics and propose solutions developed in other disciplines, such as sociology and evolutionary biology. While it might be premature to call for a revolution, Dr. Purica echoes John Maynard Keynes in believing that economic ideas are "dangerous for good or evil." In recent years evil seems to have had the upper hand. "Nonlinear Dynamics of Financial Crises" points to their ability to do good.- Makes complex economics ideas accessible by carefully explaining technical terms and minimizing mathematics and equations- Delivers easily-understood perspectives about the global economy by constructing broad assumptions and conclusions in the face of its infinitely complexity- Challenges received economic ideas by focusing on human behavior and the roles it plays in easily-observable recent trends and events

Contents:

""Front Cover""; ""Nonlinear Dynamics of Financial Crises""; ""Copyright Page""; ""Dedication""; ""Contents""; ""Brief Description of the Book""; ""Acknowledgments""; ""1 Introduction""; ""References""; ""2 Evolution of Financial Crises""; ""2.1 Definitions and Common Patterns of the Crisis""; ""2.2 The Crisis Cycle Bird�s-Eye Description""; ""2.3 Evolutionary Economics and Complex Systems Approaches to Describing Crisis Cycles""; ""2.3.1 General Equilibrium Economic Theory and Financial Crises""; ""2.3.2 Complexity Theory and Financial Crises""; ""2.3.3 Complex Adaptive Systems""

""2.4 Evolutionary Economics""""References""; ""3 The Sociocultural Niche""; ""3.1 Creativity""; ""3.2 Evidences and Memes""; ""3.3 Creativity as a Memes Mutation""; ""3.4 Logistic Penetration of Memes""; ""3.4.1 Collateral Composition Trends in CDOs""; ""References""; ""4 Occupy the Financial Niche�Saturation and Crisis""; ""4.1 Introduction""; ""4.2 Social Reality and Collective Behavior""; ""4.3 Dynamics of Memes""; ""4.4 Description of the Model""; ""4.4.1 Experimental Grounds""; ""4.4.2 The Master Equation of the Process""

""4.4.3 Identification of the System Variable and Control Parameters""""4.4.4 Change of Stationary Solution with Variations of the Control Parameters�the “Cusp� Type Catastrophe""; ""4.5 Criteria for Financial Development Strategies""; ""4.5.1 Beyond Resilience�Decisions for Safety""; ""4.5.2 Perception of Alternatives and Strategic Conduct""; ""References""; ""5 Monitoring Issues and Measuring the Change""; ""5.1 Predict the Phase Change""; ""5.2 Crossing the Limit in the Decision Space""; ""5.3 Cases of Decision Trajectory Evolution""

""5.4 Freedom Versus Deregulation�Historical Considerations""""5.5 Procedure for Predicting Crisis Cycles""; ""References""; ""6 Nonlinear Effects in Market Penetration�Deterministic Chaos""; ""6.1 Quadratic Phase Diagrams in Economics""; ""6.2 Penetration of a Financial Instrument""; ""References""; ""7 Final Thoughts on Crises and Adaptability""; ""7.1 Do We Want to Eliminate the Crises?""; ""References""; ""Appendix 1 Evolution of Models in Relation to Crisis Cycles""; ""References""; ""Appendix 2 Logistic Map""; ""References""; ""Bibliography""

Notes:

Description based upon print version of record.

Includes bibliographical references at the end of each chapters.

Description based on online resource; title from PDF title page (ebrary, viewed April 11, 2015).

ISBN:

9780128032763

0128032766

9780128032756

0128032758

OCLC:

905902666