Wow! eBook
Positive Feedback Economies
Author(s): Elettra Agliardi (Author)
- Publisher: Palgrave Macmillan
- Publication Date: 9 Feb. 1998
- Language: English
- Print length: 168 pages
- ISBN-10: 033362128X
- ISBN-13: 9780333621288
Book Description
The aim of this text 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 types 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.
