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Positive Feedback Economies

  • Elettra¬†Agliardi

Table of contents

  1. Front Matter
    Pages i-ix
  2. Elettra Agliardi
    Pages 1-3
  3. Elettra Agliardi
    Pages 21-54
  4. Elettra Agliardi
    Pages 67-89
  5. Elettra Agliardi
    Pages 91-111
  6. Elettra Agliardi
    Pages 139-140
  7. Back Matter
    Pages 141-154

About this book

Introduction

The objective of this book is to study the economy as a complex system and to show that the presence of self-reinforcing mechanisms in very different economic problems gives rise to common regularities and common qualitative properties. Dynamic systems of the self-reinforcing type are considered, that is, systems with local positive feedbacks. Economic theory maintains that positive feedbacks can cause multiple equilibria and possible inefficiency. This book concentrates on the less familiar properties of lock-in, path-dependence and symmetry-breaking.

Keywords

agents economic dynamics economic system economic theory efficiency

Authors and affiliations

  • Elettra¬†Agliardi
    • 1
    • 2
  1. 1.University of BolognaItaly
  2. 2.Churchill CollegeCambridgeUK

Bibliographic information

Industry Sectors
Finance, Business & Banking