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Making Sense of Chaos: A Revolution in Economic Theory | J. Doyne Farmer

Hidden Forces

CHAPTER

Chaos, Prediction, and Complexity

This chapter explores the intricacies of predictive models through the lens of chaos theory and determinism, highlighting the limitations of forecasting in seemingly ordered systems. It examines the relationship between chaos, uncertainty, and complex systems, featuring thought experiments and real-world examples that illustrate these principles. The discussion also encompasses attractors and dynamical systems, emphasizing their significance in understanding complex behaviors in both natural and economic contexts.

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