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Titlebook: Microfoundations of Evolutionary Economics; Yoshinori Shiozawa,Masashi Morioka,Kazuhisa Tanigu Book 2019 Springer Japan KK, part of Spring

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书目名称Microfoundations of Evolutionary Economics
编辑Yoshinori Shiozawa,Masashi Morioka,Kazuhisa Tanigu
视频video
概述Presents the first microfoundation book for evolutionary economics.Shows how myopic agents with limited rationality can generate plausible adjustment processes in the economy.Clarifies how the market
丛书名称Evolutionary Economics and Social Complexity Science
图书封面Titlebook: Microfoundations of Evolutionary Economics;  Yoshinori Shiozawa,Masashi Morioka,Kazuhisa Tanigu Book 2019 Springer Japan KK, part of Spring
描述.This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent approach to economics must include a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics has rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it does not have its own value theory and is not capable of explaining the workings of everyday economics processes, in which any evolutionary process would take place..Our point of departure is the addition of myopic agents with severely limited rational and forecasting capacities (in stark contrast to mainstream economics). We show how myopic agents, in a complex world, can produce a stable price system and demonstrate how they can adjust their production to changing demand flows. Agents behave without any knowledge of the overall process, and they generate a stable economy as large as the global network of exchanges. This is the true “miracle” of the market mechanism. In contrast to mainstream general
出版日期Book 2019
关键词Evolutionary economics; Micro-macro loop; Microfoundation; Myopic agent; Quantity adjustment; Stable pric
版次1
doihttps://doi.org/10.1007/978-4-431-55267-3
isbn_ebook978-4-431-55267-3Series ISSN 2198-4204 Series E-ISSN 2198-4212
issn_series 2198-4204
copyrightSpringer Japan KK, part of Springer Nature 2019
The information of publication is updating

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Microfoundations of Evolutionary Economics,he foundations of evolutionary economics, we discuss (1) why this dogma is supportable, (2) why most of economic entities evolve, (3) what are the defects of standard (or neoclassical) economic theories, and (4) ideas to reconstruct economics in an evolutionary way..The main task of this chapter is
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The Basic Theory of Quantity Adjustment, capitalist system as a demand-constrained economy in which firms are almost always competing to capture the demand for their products. This aspect of capitalism has a profound relevance with the long-term changes in technologies and products through incessant innovations. Section . formulates produ
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Dynamic Properties of Quantity Adjustment Process Under Demand Forecast Formed by Moving Average ofs and raw material orders based on inventories and demand forecasts under constant prices and final demands. Special attention is paid to the role of demand forecast by a moving average of past demands. Section . describes the assumptions common to all the models and explains how and in what sequenc
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Extensions of Model Analysis of the Quantity Adjustment Process in Several Directions, considering work-in-process inventory, partial adjustment of production volume, and heterogeneity of firms within a sector. It will be shown that, under certain conditions, the stability conditions of these models are given in similar forms to those in Chap. ., and thus, the introduction of the abo
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Exchange and Arbitrage, observed objectively, buying and selling can be conducted by referring to objective indexes. In this instance, “evaluation” has to be explicitly distinguished from prices. It is important for executing buying and selling transactions that there be a different “evaluation” formed by each buying part
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