Recognising that the economy is a complex system with boundedly rational interacting
agents, the book presents a theory of behavioral rationality and heterogeneous expectations …

Chaotic systems are everywhere (Strogatz 1995), from celestial mechanics to biology to
electron transport. Not only do they cover many scales, but the phenomena that fall under …

In this paper, we consider a closed-loop supply chain (CLSC) with product recovery, which
is composed of one manufacturer and one retailer. The retailer is in charge of recollecting …

In this paper we investigate the effects of network topologies on asset price dynamics. We
introduce network communications into a simple asset pricing model with heterogeneous …

A Cournot‐Bertrand mixed duopoly game model with limited information about the market
and opponent is considered, where the market has linear demand and two firms have the …

Based on a generalized nonlinear price function and consumer surplus, a Cournot duopoly
game whose players want to maximize their profits and social welfare is introduced in this …

Abstract We present a New Keynesian model in which a fraction n of agents are fully
rational, and a fraction 1− n of agents are bounded rational. After deriving a simple reduced …

As a whole this book adds the 'Keynes'-component (K) to the Goodwinian vision of a 'MKS-
System'. It first provides a reconsideration of prominent past approaches towards the …

The paper investigates the emergence of complex market expectations (opinion dynamics)
around nominal exchange rate adjustments using a macro-financial model of a small open …

We propose a behavioural model of technological change with evolutionary switching
between costly innovators and free imitators, and study the endogenous interplay of …