Dominique, CRene (2016): Analyzing Market Economies From the Perspective of Information Production, Policy, and Selforganized Equilibrium. Published in: Expert Journal of Economics , Vol. 4, No. (1) (4 April 2016): pp. 1423.

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Abstract
A modern market economy is an exceedingly complex, infinitedimensional, stochastic dynamical system. The failure of mainstream economists to characterize its dynamics may well be due to its intractability. This paper argues that the characterization of its dynamics becomes almost trivial when it is analyzed from the perspective of information production. Whether its Jacobian matrix is specifiable or not, a Lyapunov spectrum can be constructed from which the potential KolmogorovSinai or Shannon entropy can be assessed. But, a selforganized equilibrium must first obtain, and for that a suitable policy must be operational.
Item Type:  MPRA Paper 

Original Title:  Analyzing Market Economies From the Perspective of Information Production, Policy, and Selforganized Equilibrium 
English Title:  Analyzing Market Economies From the Perspective of Information Production, Policy, and Selforganized Equilibrium 
Language:  English 
Keywords:  Complexity, KolmogorovSinai entropy, Shannon entropy, Lyapunov spectrum, Lyapunov dimension, Efficient policy, Selforganized equilibrium. 
Subjects:  B  History of Economic Thought, Methodology, and Heterodox Approaches > B4  Economic Methodology B  History of Economic Thought, Methodology, and Heterodox Approaches > B4  Economic Methodology > B41  Economic Methodology C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61  Optimization Techniques ; Programming Models ; Dynamic Analysis 
Item ID:  70725 
Depositing User:  CRene Dominique 
Date Deposited:  15 Apr 2016 07:11 
Last Modified:  08 Oct 2019 13:45 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/70725 