Positive Feedback Economies by Elettra Agliardi (1998, Hardcover)

Key Details
Author:	Elettra Agliardi
Language:	English
Publisher:	Palgrave Macmillan
Format:	Hardcover
ISBN-10:	0312212488
ISBN-13:	9780312212483

Size
Length:	154 pages
Height:	9 in
Width:	5.8 in
Thickness:	0.8 in
Weight:	11.2 oz

Publisher's Note
Examines the economy as a complex system and to show that the presence of self-reinforcing mechanisms in different economic problems gives rise to common regularities and common qualitative properties. Maintains that these self-reinforcing positive feedback mechanisms can cause multiple equilibria and possible inefficiency. Issues such as lock-in, path- dependence, and symmetry-breaking are detailed. Annotation c. by Book News, Inc., Portland, Or.

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.