What´s new and useful about chaos in economic science
- Fernández Díaz, Andres
- Escot Mangas, Lorenzo
- Grau Carles, Pilar
ISSN: 1989-0567, 1989-0567
Year of publication: 2012
Issue: 2
Pages: 1-40
Type: Working paper
More publications in: Cuadernos de Trabajo de la Facultad de Estudios Estadísticos
Abstract
Complexity is one of the most important characteristic properties of the economic behaviour. The new field of knowledge called Chaotic Dynamic Economics born precisely with the objective of understanding, structuring and explaining in an endogenous way such complexity. In this paper, and after scanning the principal concepts and techniques of the chaos theory, we analyze, principally, the different areas of Economic Science from the point of view of complexity and chaos, the main and most recent researches, and the present situation about the results and possibilities of achieving an useful application of those techniques and concepts in our field.