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About Some Directions of Economic Theory Development

Author

Listed:
  • Leonidov, A.

    (The Lebedev Physical Institute of the Russian Academy of Sciences, Moscow, Russia
    Dmitry Pozharsky University, Moscow Institute of Physics and Technology, Moscow, Russia)

Abstract

The paper discusses some promising directions of theoretical economics related to analyzing problems with many interacting agents, i.e. at graphs with fixed or emergent topologies. A necessity of developing a statistical game theory is discussed; in which, similarly to statistical physics, one constructs an approximate aggregated description of a system in terms of a small number of representative collective variables. Development of aggregated description of systems with nontrivial local topology of economic interactions is of particular interest. A modern status of multi sector macroeconomic models is described portraying economic interaction through considering a weighted oriented graph corresponding to the input-output matrix as well as multiagent approach to optimization problems in which an optimal state is reached by agents exchanging services at the virtual market..

Suggested Citation

  • Leonidov, A., 2017. "About Some Directions of Economic Theory Development," Journal of the New Economic Association, New Economic Association, vol. 34(2), pages 189-192.
    • Handle: RePEc:nea:journl:y:2017:i:34:p:189-192
    as

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    References listed on IDEAS

    as
    1. Alexei Kireyev & Andrei Leonidov, 2018. "Network Effects of International Shocks and Spillovers," Networks and Spatial Economics, Springer, vol. 18(4), pages 805-836, December.
    2. Mr. Alexei P Kireyev & Andrei Leonidov, 2016. "China’s Imports Slowdown: Spillovers, Spillins, and Spillbacks," IMF Working Papers 2016/051, International Monetary Fund.
    3. Daron Acemoglu & Vasco M. Carvalho & Asuman Ozdaglar & Alireza Tahbaz‐Salehi, 2012. "The Network Origins of Aggregate Fluctuations," Econometrica, Econometric Society, vol. 80(5), pages 1977-2016, September.
    4. Lawrence Blume & Steven Durlauf, 2003. "Equilibrium Concepts for Social Interaction Models," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 5(03), pages 193-209.
    5. Follmer, Hans, 1974. "Random economies with many interacting agents," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 51-62, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    multiagent systems; dynamics on graphs; macroeconomic dynamics;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics

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