The Changing Face of Economics: Conversations with Cutting Edge Economists

Index

 335 Index aberration, and the standard model, 19 Abreu, Dilip, and bounded rationality, 56 addictive habits, and misery in af›uent society, 153 ad hoc-ness, 149 adverse selection, and K. Arrow, 300 agent-based approach, and computational power, 281–82 agent-based computer modeling, and H. Gintis, 86–87 agent-based computing, and R. Axtell’s teaching, 269–70 agent-based modeling, 1; and acceptance by economists, 275–77; and A. Brian’s El Ferol model, 261; and commercial applications, 271; and computation , 255; and disproving theorems , 259; and J. Epstein, 256; and ‹nancial markets, 277; and P. Markowski, 269; and its natural audience , 256; and orthodoxy, 278–79; and policymaking, 276; and skewed distribution, 268; and university curricula , 276–77; and H. P. Young, 23, 271–88 agent-based simulations, 178–79 agent level, and equilibrium, 267–68 agent-level equilibrium, and mainstream , 255 agent researchers, and tension, 263 agents: and R. Axtell, 23; and heterogeneity , 19; and J. von Neumann, 19 agent speci‹cation, and macroeconomics , 285 aggregate rationality, and rational agents, 277–78 agricultural economics, and W. A. Brock, 158, 159–60 Akerlof, George: and R. H. Frank, 109; and H. Gintis, 92; and in›uence on M. Rabin, 142; and mainstream acceptance, 3 Albin, John, and the complexity revolution , 203 Albin, Peter, and cellular automatons, 202–3 Allen, R. D. G., and D. K. Foley, 183 Allen, Todd, and macroeconomic dynamics, 264–65 allocation, and alternative market forms, 287 alternative stable state systems, 180 Amnesty International, and H. Gintis, 87–88 Anasazi culture, and modeling, 259–60 Anderson, Phil, and Santa Fe Institute, 166, 257 Ando, Albert, and MIT teaching, 191 answers, and do they exist, 233 applied economics, and D. McCloskey, 30 approximation theory, and K. G. Binmore , 49–50 arcing, 178 Arrow, Kenneth: and K. G. Binmore, 50; and change, 21, 240; and competitive equilibrium, 298, 303–4; and complexity approach, 6; credentials, 307; and H. Gintis, 82; and graduate work in economics, 44–45; and how he became an economist, 291–92, 303; and learning from experience, 299–300; and mainstream elite, 10, 296–97; and new ideas, 298–300; and 1988 Santa Fe conference, 20; and RAND Corporation, 207; and Santa Fe Institute, 102–3, 166, 294–95 Arrow/Debreu: arguments, 185; and rational expectations, 202 Arrow-Debreu-McKenzie general equilibrium , and P. Samuelson, 310 Arthur, Brian: and his El Ferol model, 261; and Santa Fe Institute, 102 arti‹cial intelligence: and M. Minsky, 131; and traditional systems, 263 Ascape, and modeling Anasazi culture, 260, 261 “as if” arguments: and K. G. Binmore, 69–70; and E. Nagel, 253; and Herbert Simon, 253 asset equilibrium, and stock-›ow issues, 195 Association of Environmental and Resource Economists, 222 Augustine, and search for knowledge, 35 Aumann, Robert: and backward induction , 60–61; and large-economy limits , 179 Austrian economics: and ecological economics, 223; and heterodoxy, 9; and price discovery, 282 Axelrod, Robert: and competitive tournaments , 203; and evolution, 231; and interdisciplinary programs, 276; and the Prisoners’ Dilemma, 71, 271; and replication of computational models, 261–62 Axtell, Robert: and analytic tractability, 23; credentials, 289; and how he became an economist, 252–57, 269–70; and replication of computational models, 261–62 Babcock, Linda, at Carnegie Mellon Public Policy School, 252 backward induction: and behavioral models, 54, 55, 60–61; and failure in the laboratory, 64 bagging, 178 Bak, Per: and power laws, 267; and self-organized criticality, 169; and universal laws, 295 balance of payments, 14–15 band spectrum regression, 195 Banerjee, Abhijit, and data collection, 103–4 bargaining: and the “as if” discussion, 69–70; and K. G. Binmore, 51–55 Barkin, David, and ecological economics , 223 Barnard College, and D. K. Foley, 201–2 Barnett, Harold J., and R. B. Norgaard, 217–18 Bator, Francis, and welfare economics, 237 Baumol, William, and mainstream acceptance, 3 Bayesian analysis, and computing power, 162 Bayesian approach, and K. G. Binmore, 62 Bayesian econometrics, 38 Bayesian model averaging, 178 Bayesian players, and practical applications , 305 Bayesian reasoning, and M. Rabin, 145 Bayesian updating, and failure in the laboratory, 64 BDS (Brock, Dechert, Scheinkman) statistic , 162, 165 Becker, Gary, 8; and the family, 171; and D. McCloskey, 31; and predictive models, 117 index 336 behavioral economics, 1; and its best application, 151; and broader economic research, 127; and experiment limitations, 95; its ‹rst, second, and third waves, 147; and R. H. Frank, 22, 110...