{"product_id":"nonlinear-dynamics-chaos-and-instability-statistical-theory-and-economic-evidence-9780262023290","title":"Nonlinear Dynamics  Chaos  and Instability: Statistical Theory and Economic Evidence","description":"\u003cp\u003eChaos theory has touched on such fields as biology  cognitive science  and physics. By providing a unified and complete explanation of new statistical methods that are useful for testing for chaos in data sets  Brock  Hsieh  and LeBaron show how the principles of chaos theory can be applied to such areas of economics and finance as the changing structure of stock returns and nonlinearity in foreign exchange. They use computer models extensively to illustrate their ideas and explain this frontier research at a level of rigor sufficient for others to build upon as well as to verify the soundness of their arguments.The authors  who have played a major role in developing basic testing methods that are effective in detecting chaos and other nonlinearities  provide a detailed exposition of empirical techniques for identifying evidence of chaos. They introduce and describe the BDS statistic  an easy-to-use test that detects the existence of potentially forecastable structure  nonstationarity  or hidden patterns in time-series data and that can be adapted to test for the adequacy of fit of forecasting models. An extensive performance evaluation of the BDS is included.Nonlinear Dynamics  Chaos  and Instability also reviews important issues in the theoretical economics literature on chaos and complex dynamics  surveys existing work on the detection of chaos and nonlinear structure  and develops models and processes to discover predictable sequencing in time-series data  such as stock returns  that currently appear random.William A. Brock is Vilas Research Professor of Economics and Blake LeBaron is Assistant Professor of Economics  both at the University of Wisconsin  Madison. David A. Hsieh is Professor of Business at the Fuqua School of Business  Duke University.\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":45275513126965,"sku":"ByrdShop_0262023296","price":241.86,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780262023290.jpg?v=1780508572","url":"https:\/\/atxbooks.com\/products\/nonlinear-dynamics-chaos-and-instability-statistical-theory-and-economic-evidence-9780262023290","provider":"ATX Books","version":"1.0","type":"link"}