Epstein Secrets

ma and others. Throughout this paper comparisons are made to the work of Ian Wright who describes simulated economic models in two notable papers [Wright 2005, 2009]. Wright's models are significantly different to my own, most notably in not involving a financial sector. Also, unlike the present pape

rom top to bottom. But this still results in a distribution with a large bias giving most of the wealth to a minority of individuals. Going back to the Lotka-Volterra and GLV models discussed in section 1.2, it is better to abandon the predator-prey model of foxes killing rabbits, and instead think in terms of a '

n the company model to prevent the introduction of severe cycling in the model output. Directly comparing my own macroeconomic models with those of Wright is not straightforward. My own models include a financial sector which is clearly more realistic, as Wright acknowledges in the Social Architecture

this is a chaotic model, not a stochastic one. There is no stochasticity in this model. All fluctuations in the model are created endogenously from the Lotka-Volterra like differential equations in the model. Figure 4.3.4 shows the detail of couple of cycles. Figure 4.3.4 here These are real live Minskian / Aus

ution becomes possible. Moving to a different issue, an element that is missing from this model, and indeed all my models, is that of unemployment. Wright's models are superior in this regard, and may shed light on this dynamic. Equation (4.7e), and a Maxwell-Boltzmann distribution, especially an offs

al and ecological scientists have the right mathematical tools for creating a radical and effective new economics, both specifically in the form of the Lotka-Volterra and maximum entropy production models, and more generally in their understanding of complex inter-related evolving systems. Ultimately this maths f