Herding Cats and Chaos Theory

Colin Read

Chapter 18 in The Rise and Fall of an Economic Empire, 2010, pp 178-186 from Palgrave Macmillan

Abstract: Abstract Edward Lorenz, a quiet assistant professor of meteorology at the Massachusetts Institute of Technology, once demonstrated that a seemingly innocuous change in one of twelve weather parameters, and of a magnitude well less than one part in a thousand, could change his model predictions dramatically. His observation, entitled “The Butterfly Effect” demonstrated that a butterfly flapping its wings in Brazil could cause a tornado in Texas.71

Keywords: Lyapunov Exponent; Chaos Theory; Bureaucratic Organization; Butterfly Effect; Shop Steward (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-29707-4_19

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DOI: 10.1057/9780230297074_19

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