28,216 research outputs found

    New perspectives on realism, tractability, and complexity in economics

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    Fuzzy logic and genetic algorithms are used to rework more realistic (and more complex) models of competitive markets. The resulting equilibria are significantly different from the ones predicted from the usual static analysis; the methodology solves the Walrasian problem of how markets can reach equilibrium, starting with firms trading at disparate prices. The modified equilibria found in these complex market models involve some mutual self-restraint on the part of the agents involved, relative to economically rational behaviour. Research (using similar techniques) into the evolution of collaborative behaviours in economics, and of altruism generally, is summarized; and the joint significance of these two bodies of work for public policy is reviewed. The possible extension of the fuzzy/ genetic methodology to other technical aspects of economics (including international trade theory, and development) is also discussed, as are the limitations to the usefulness of any type of theory in political domains. For the latter purpose, a more differentiated concept of rationality, appropriate to ill-structured choices, is developed. The philosophical case for laissez-faire policies is considered briefly; and the prospects for change in the way we ‘do economics’ are analysed

    The assessment of complex learning outcomes

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    The Engineering Professors' Council (EPC) produced an output standard in 2000 containing a setof 26 generic statements of what an engineering graduate should have an ability to tackle. In addition, Higher Education (HE) is concerned with the promotion of complex or advanced understanding of subject matter. This leads to complex learning outcomes, which need to be adequately assessed. Changing demands mean changing assessment practices. While good practice is being used in many cases, there is a need to ensure assessment stimulates complex learning. The article seeks to address these issues

    New perspectives on realism, tractability, and complexity in economics

    Get PDF
    Fuzzy logic and genetic algorithms are used to rework more realistic (and more complex) models of competitive markets. The resulting equilibria are significantly different from the ones predicted from the usual static analysis; the methodology solves the Walrasian problem of how markets can reach equilibrium, starting with firms trading at disparate prices. The modified equilibria found in these complex market models involve some mutual self-restraint on the part of the agents involved, relative to economically rational behaviour. Research (using similar techniques) into the evolution of collaborative behaviours in economics, and of altruism generally, is summarized; and the joint significance of these two bodies of work for public policy is reviewed. The possible extension of the fuzzy/ genetic methodology to other technical aspects of economics (including international trade theory, and development) is also discussed, as are the limitations to the usefulness of any type of theory in political domains. For the latter purpose, a more differentiated concept of rationality, appropriate to ill-structured choices, is developed. The philosophical case for laissez-faire policies is considered briefly; and the prospects for change in the way we ‘do economics’ are analysed.Fuzzy logic; genetic algorithms; complexity; emergence; rationality; ill-structured choice; equilibrium; Walrasian Crier; paradigm change;

    The safety case and the lessons learned for the reliability and maintainability case

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    This paper examine the safety case and the lessons learned for the reliability and maintainability case

    Scientists' coping strategies in an evolving research system: the case of life scientists in the UK

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    Scientists in academia have struggled to adjust to a policy climate of uncertain funding and loss of freedom from direction and control. How UK life scientists have negotiated this challenge, and with what consequences for their research and the research system, is the empirical entrance point of this paper. We find that policy impacts can be modulated and buffered by strategies and compromises devised and deployed at research performer level. This shifts conceptualisation from terms of responses to one of more or less proactive strategies of scientists and science organisations which add up, intentionally or unintentionally, to shifts in the overall system

    Vulnerability to Globalization in India: Relative Rankings of States Using Fuzzy Models

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    globalization, vulnerability, fuzzy inference systems, India
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