Munich Personal RePEc Archive

Economic system dynamics

McCauley, Joseph L. and Küffner, Cornelia M. (2004): Economic system dynamics. Published in: Discrete Dynamics in Nature and Society , Vol. 1, (2004): pp. 213-220.


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We provide the reader with a qualitative summary of the main ideas from econophysics and finance theory, starting with a thorough criticism of the standard ideas taught in typical economics textbooks. The emphasis is on the Galilean or physicists' approach to market synamics, as opposed to the standard nonempirical postulatory one.

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