Bøger i Evolutionary Economics and Social Complexity Science serien

Modern Classical Economics and Reality

This book covers various data scientific approaches to analyze the issue of grid integration of renewable energy for which the grid flexibility is the key to cope with its intermittency. It provides readers with the scope to view renewable energy integration as establishing a distributed energy network instead of the traditional centralized energy system. Specifically, quantitative valuation system-wise of the levelized cost of energy, which includes both initial cost and various operational costs, enables readers to optimize energy systems in order to minimize economic cost and environmental impact. It is noted, however, that the high cost of integrating renewable energy on a large scale might slow economic growth considerably. Topics addressed in the book also include statistical comparative study of the relationship between energy and economic growth, a graphical model of determinant factors for foreign direct investment in renewable energy, the coupled oscillator model and unitcommitment model to capture intermittency of renewable energy, and the network model of evolving micro-grids. The book explains desired innovation to reduce the integration cost significantly using innovative technologies such as energy storage with hydrogen production and vehicle-to-grid technology. Illustrated by careful analysis of selected examples of renewable integration using different types of grid flexibility, this volume is indispensable to readers who make policy recommendations to establish the distributed energy network integrated with large-scale renewable energy by disentangling the nexus of energy, environment, and economic growth.

This book presents examples of and the latest simulation studies on artificial societies and populations, highlighting innovative implementations of various models of artificial societies and populations using a new, C++-related simulation tool.

There are few books that systematically discuss Keynes and Knight, although there are remarkable comparisons between Keynes's concept of probability and uncertainty and Knight's distinction between a measurable risk and a non-measurable uncertainty.

This book integrates three levels of political-economic analysis: first a comparative institutional analysis of the varieties of capitalism in both Europe and Asia, second a macroeconomic analysis of industrial structural change and economic dynamics of the national economies in Europe and Asia, and then an encompassing analysis of international production linkages and international financial instability which determine the long-term patterns of regional integration in Europe and Asia. The comparison of the European Union and ASEAN delivers some key conditions for a viable long-term regional economic integration to cope with contrasted capitalisms and growth regimes: either pragmatism in the choice of an exchange rate regime, or a form of fiscal federalism. The reader will also find a genuine analysis of the dynamism of the Chinese economy, a study on institutional changes and de-industrialization in Japan, and the increasing international production linkages among China, Japan, Korea, and ASEAN. It is shown how the enlargement of the European Union and the Euro triggered the diverging competitiveness and macroeconomic performances that led to the crisis of a six decades long economic and political process. This book is the result of long lasting Asian-European collaborative research. It is a milestone in the historical and comparative analysis along the régulation theory that aims at understanding the long-run transformations, renewed diversity and interdependence of capitalisms.

He also believed that the reasonable value could be achieved by the evolution of institutions.There is no doubt that Commons's ideas proposed in Institutional Economics such as transactions and collective actions greatly inspired later economists;

This book focuses on how important massive information is and how sensitive outcomes are to information.

This book takes up unique agent-based approaches to solving problems related to stock and their derivative markets. Toward this end, the authors have worked for more than 15 years on the development of an artificial market simulator called U-Mart for use as a research and educational tool. A noteworthy feature of the U-Mart simulator compared to other artificial market simulators is that U-Mart is an ultra-realistic artificial stock and their derivative market simulator. For example, it can simulate "arrowhead," a next-generation trading system used in the Tokyo Stock Exchange and other major markets, as it takes into consideration the institutional design of the entire market. Another interesting feature of the U-Mart simulator is that it permits both human and computer programs to participate simultaneously as traders in the artificial market. In this book, first the details of U-Mart are explained, enabling readers to install and run the simulator on their computers for research and educational purposes. The simulator thus can be used for gaming simulation of the artificial market and even for users as agents to implement their own trading strategies for agent-based simulation (ABS).The book also presents selected research cases using the U-Mart simulator. Here, topics include automated acquisition of trading strategy using artificial intelligence techniques, evaluation of a market maker system to treat thin markets such as those for small and regional businesses, systemic risk analysis of the financial market considering institutional design of the market, and analysis of how humans behave and learn in gaming simulation. New perspectives on artificial market research are provided, and the power, potential, and challenge of ABS are discussed. As explained in this important work, ABS is considered to be an effective tool as the third approach of social science, an alternative to traditional literary and mathematical approaches.

While employing a variety of approaches to address topics such as economic interdependence among democracies and authoritarian states, the development assistance regimes, internal conflicts in developing countries, and cyber security, the whole volume presents a clear overview of challenges and risks the world is facing.

This is the first book published in English on the new international value theory, presented by Yoshinori Shiozawa in 2007. examining how the new theory gives a new horizon to the Neo-Ricardian trade theory;

This book is devoted to analyzing contemporary capitalism both in Japan and in the world economy by using the theoretical framework of the French regulation theory and by revisiting the theory of civil society in postwar Japan.

This book focuses on how important massive information is and how sensitive outcomes are to information.

He also believed that the reasonable value could be achieved by the evolution of institutions.There is no doubt that Commons's ideas proposed in Institutional Economics such as transactions and collective actions greatly inspired later economists;

This is the first book published in English on the new international value theory, presented by Yoshinori Shiozawa in 2007. examining how the new theory gives a new horizon to the Neo-Ricardian trade theory;

and whether socially responsible investment can be a social institution for corporate governance.The book is also addressed to philosophers of social sciences interested in how experimental methods can contribute to developing cognition of human behaviors and be extended to social theories.

This book presents new theory and empirical studies on the roles of cognitive workload and fatigue on repeated financial decisions.

In contrast, community currencies conveying both economic and social/cultural values are distinct platform institutions that are expected to endogenously change such basic replicators in outer and inner institutions for agents to a noncapitalistic market economy.

This book discerns and distinguishes essential features of basic economic theories developed in the 1930s to 1950s, and compares them with theories that have arisen in recent years. Covers the advent of socioeconophysics, and many other contemporary trends.

This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes.

Simulation of Financial Markets with Agent-Based Model

This book systematically provides a prospective integrated approach for complexity social science in its view of statistical physics and mathematics, with an impressive collection of the knowledge and expertise of leading researchers from all over the world.

This book integrates the concept of design into the existing framework of industrial performance, international trade and comparative advantage in trade and industrial phenomena, which increasingly have been affected by design characteristics of tradable goods.

This book integrates three levels of political¿economic analysis: first a comparative institutional analysis of the varieties of capitalism in both Europe and Asia, second a macroeconomic analysis of industrial structural change and economic dynamics of the national economies in Europe and Asia, and then an encompassing analysis of international production linkages and international financial instability which determine the long-term patterns of regional integration in Europe and Asia. The comparison of the European Union and ASEAN delivers some key conditions for a viable long-term regional economic integration to cope with contrasted capitalisms and growth regimes: either pragmatism in the choice of an exchange rate regime, or a form of fiscal federalism. The reader will also find a genuine analysis of the dynamism of the Chinese economy, a study on institutional changes and de-industrialization in Japan, and the increasing international production linkages among China, Japan, Korea, and ASEAN. It is shown how the enlargement of the European Union and the Euro triggered the diverging competitiveness and macroeconomic performances that led to the crisis of a six decades long economic and political process. This book is the result of long lasting Asian¿European collaborative research. It is a milestone in the historical and comparative analysis along the régulation theory that aims at understanding the long-run transformations, renewed diversity and interdependence of capitalisms.

While employing a variety of approaches to address topics such as economic interdependence among democracies and authoritarian states, the development assistance regimes, internal conflicts in developing countries, and cyber security, the whole volume presents a clear overview of challenges and risks the world is facing.

Agent-based simulation of the prediction market augmented with these four elements enables an examination of the effects of these elements on the prediction market from the computational aspect and hence tests the Hayek hypothesis on the basis of diverse institutional and individual characteristics.

Modern evolutionary economics and classical political economy are combined in this book on the basis of the reproduction of agents and their relations in the social economy. However, modern evolutionary economics with its pluralistic and contingent view of reproduction does not presuppose equilibrium or harmonious reproduction. A society that consists of multiple agents needs to develop its order out of the interactions of those agents. The author introduces the struggle for recognition that proceeds with the act of exchange to conceive the emergence of social and economic order. The dual structure of the real and financial economy is discussed as its consequence. There follows an interpretation of collective action using the twin concept of voice and exit. Finally, the concept of evolutionary governance is proposed to grasp the politico-economic aspect of the social economy. Thus, this book shows the promising direction in which the modern political economy proceeds in accordance with the contingent process of evolutionary reproduction.

This book presents new theory and empirical studies on the roles of cognitive workload and fatigue on repeated financial decisions.

Recent applications of evolutionary game theory in the merging fields of the mathematical and social sciences are brilliantly portrayed in this book, which highlights social physics and shows how the approach can help to quantitatively model complex human-environmental-social systems.First, readers are introduced to the fundamentals of evolutionary game theory. The two-player, two-strategy game, or the 2 × 2 game, is presented as an archetype to help understand the difficulty of cooperating for survival against defection in common social contexts. Subsequently, the book explains the theoretical background of the multi-player, two-strategy game, which may be more widely applicable than the 2 × 2 game for social dilemmas. The latest applications of 2 × 2 games are also discussed to explore how integrated reciprocity mechanisms can solve social dilemmas.In turn, the book describes two practical areas in which evolutionary game theory has been applied. The first concerns traffic flow analysis. In conventional interpretations, traffic flow can be understood by means of fluid dynamics, in which the flow of vehicles is evaluated as a continuum body. Such a simple idea, however, does not work well in reality, particularly if a driver's decision-making process is considered. Various dilemmas involve complex structures that depend primarily on traffic density, a revelation that should help establish a practical solution for reducing traffic congestion.Second, the book provides keen insights into how powerful evolutionary game theory can be in the context of epidemiology. Both approaches, quasi-analytical and multi-agent simulation, can clarify how an infectious disease such as seasonal influenza spreads across a complex social network, which is significantly affected by the public attitude toward vaccination. A methodology is proposed for the optimum design of a public vaccination policy incorporating subsidies to efficiently increase vaccination coverage while minimizing the social cost.

This book examines corporate reform in Japan by focusing on corporate governance and the employment system. Chapter 1 discusses how Japanese corporate governance changed incrementally and cumulatively to rebuild management and restore corporate performance.