How Long to Read Barriers and Bounds to Rationality

How Long Does it Take to Read Barriers and Bounds to Rationality?

It takes the average reader 5 hours and 3 minutes to read Barriers and Bounds to Rationality by Peter Albin

Assuming a reading speed of 250 words per minute. Learn more

Description

Peter Albin is known for his seminal work in applying the concepts of adaptive dynamical systems, first developed by biologists and physicists, to the study of economic systems. This book is a collection of his pathbreaking articles on the application of cellular automata and complexity theory to economic problems. Duncan Foley provides a thoughtful introduction in which he reviews the disparate analytical sources of Albin's work in the theories of nonlinear dynamical systems, economic dynamics, cellular automata, linguistic and computational complexity, and bounded rationality. Albin has analyzed economic systems as interactions of highly complex components (i.e., intelligent human beings). He uses the theories of generative linguistics and cellular automata to establish that the complexity level of economic systems is, in principle at least, that of a Turing machine or general-purpose computer, establishing that classic economic approaches to the problems of household and firm choice, macroeconomic prediction, and policy evaluation may give rise to undecidable propositions and uncomputable functions. He develops simple models of dynamic economic interaction based on cellular automata which illustrate the inherent complexity of economic interactions and the resulting challenge they pose to traditional theories of rational economic behavior. These models explore the dynamics of the business cycle, decentralized market trading, and the emergence of cooperation in a novel local-interaction version of the repeated prisoners' dilemma game. Albin's work provides a unique and important perspective on economic systems.

How long is Barriers and Bounds to Rationality?

Barriers and Bounds to Rationality by Peter Albin is 296 pages long, and a total of 75,776 words.

This makes it 100% the length of the average book. It also has 93% more words than the average book.

How Long Does it Take to Read Barriers and Bounds to Rationality Aloud?

The average oral reading speed is 183 words per minute. This means it takes 6 hours and 54 minutes to read Barriers and Bounds to Rationality aloud.

What Reading Level is Barriers and Bounds to Rationality?

Barriers and Bounds to Rationality is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Barriers and Bounds to Rationality?

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