1987 ◽  
Vol 29 (2) ◽  
pp. 187-194 ◽  
Author(s):  
A. Dourado ◽  
G. Goma ◽  
U. Albuquerque ◽  
Y. Sevely

Author(s):  
Enrico Edoli ◽  
Stefano Fiorenzani ◽  
Tiziano Vargiolu
Keyword(s):  

2020 ◽  
pp. 151-170
Author(s):  
Yi-Cheng Zhang

Chapter 10 discusses a new paradigm. Mainstream economy is based on the optimal allocation paradigm, by which, typically any problem is reduced to an optimization goal with given constraints. We summarize the new market theory by noting that in many contexts, allocation is a process. Any movement towards a planned goal would redefine the constraints; therefore, we cannot reduce most economic problems to static optimization exercises. Instead, we must consider a dynamic process in which both allocation and creation of resources are presented as two inseparable pillars. The new paradigm focuses on dynamics and endless evolution, taking into consideration both stabilizing and destabilizing forces.


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