Nonlinear dynamics and chaos theory in economics: a historical perspective (in Russian)

Artem Prokhorov

Quantile, 2008, issue 4, 79-92

Abstract: This essay focuses on the genesis of ideas of nonlinearity, stochastics, and dynamics in economic thought as a series of intellectual advances that connected the linear static (quasi-dynamic) determinism of the 18th-19th centuries with the linear mechanistic systems with stochastic terms and the nonlinear deterministic and stochastic dynamic models of the late 20th century, specifically, the chaos theory. The emphasis is placed on the developments of the second half of the 20th century. Technicalities are avoided.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:qnt:quantl:y:2008:i:4:p:79-92

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