Day, Richard H., "Dynamical Systems Theory and Complicated Economic Behavior", 1983

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Recent developments in mathematics show that more-or-less random behavior and spontaneously evolving structures can be given analytical and deterministic representations. Both empirical simulation and theoretical models have been developed in economics that have similar capacities. This suggests that we are entering a new period when structural change and inherently unpredictable events can be explained or understood in terms of endogenous economic forces.

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  • 1983
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Processing Activity License

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System Dynamic Society Records

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Articles