Evolving Towards the New Frontiers of Economics
Pasquale De Marco
Publisher: Publishdrive
Summary
"Evolving Towards the New Frontiers of Economics" takes readers on an intellectual journey through the cutting-edge research that is transforming the field of economics. This comprehensive book delves into the innovative methods and perspectives that are challenging traditional economic thinking and providing new insights into the complex interactions that shape our economic system. We begin by exploring the world of behavioral economics, a field that recognizes the role of psychological factors in economic decision-making. We examine how cognitive biases, heuristics, and bounded rationality influence individual choices and how these insights can be applied to improve economic policy and market outcomes. Next, we turn our attention to experimental economics, a discipline that uses controlled experiments to test economic theories and hypotheses. We delve into the methodologies and findings of laboratory, field, and natural experiments, showcasing how they have contributed to our understanding of economic behavior and market dynamics. The realm of evolutionary game theory is another frontier that is expanding our knowledge of economic interactions. This approach draws inspiration from evolutionary biology to investigate how individuals and firms compete and cooperate in strategic settings. We explore evolutionary stable strategies, the concept of bounded rationality, and the application of game theory to economic phenomena. Complexity and nonlinear dynamics offer a new lens through which to view economic systems. We examine how complex adaptive systems, feedback loops, and network effects shape economic outcomes. This perspective provides insights into the interconnectedness of economic agents and the emergent properties that arise from their interactions. Agent-based modeling is a powerful tool that allows economists to simulate economic behavior and explore the consequences of different policies and interventions. We delve into the principles and applications of agent-based models, highlighting their potential for understanding market dynamics, technological change, and the diffusion of innovations. Finally, we explore the implications of these new approaches for economic policy and practice. We examine how behavioral insights can be incorporated into policy design, how experimental methods can be used to evaluate the effectiveness of policies, and how evolutionary and complexity theories can inform our understanding of economic resilience and sustainability. "Evolving Towards the New Frontiers of Economics" is an essential resource for students, researchers, policymakers, and anyone seeking a deeper understanding of the forces shaping our economic world. With its comprehensive coverage of cutting-edge research and its focus on the practical implications of new economic insights, this book provides a roadmap for navigating the complexities of the 21st-century economy. If you like this book, write a review!
Available since: 06/02/2025.
Print length: 162 pages.
