CHAOS, ECONOMICS, AND RISK

Michael D. Weiss

No 271547, 1991 Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk Meeting, March 17-20, 1991, San Antonio, Texas from Regional Research Projects > S-232: Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk

Abstract: In recent years, research in both mathematics and the applied sciences has produced a revolution in the understanding of nonlinear dynamical systems. Used videly in economics and other disciplines to model change over time, these systems are now known to be vulnerable to a kind of "chaotic," unpredictable behavior. This paper places this revolution in historical context, explains several of the important mathematical ideas on vhich it is based, and discusses some of its implications for a probabilistic interpretation of longrun economic phenomena.

Keywords: Agricultural and Food Policy; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 49
Date: 1991-03
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://ageconsearch.umn.edu/record/271547/files/SrnRegPrj-018.pdf (application/pdf)
https://ageconsearch.umn.edu/record/271547/files/S ... 8.pdf?subformat=pdfa (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:rrsr91:271547

DOI: 10.22004/ag.econ.271547

Access Statistics for this paper

More papers in 1991 Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk Meeting, March 17-20, 1991, San Antonio, Texas from Regional Research Projects > S-232: Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk
Bibliographic data for series maintained by AgEcon Search ().