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W. Brian Arthur
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http://www.santafe.edu/arthur/
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Economics, High Technology Industry
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Citibank Professor, Santa Fe Institute
Schumpeter Prize in Economics 1990; Guggenheim Fellow, 1987-88; Fellow of the Econometric Society
Dean and Virginia Morrison Professor of Population Studies and Economics, Stanford; Professor of Human Biology, Stanford, 1983-1996
Member, Board of Trustees, Santa Fe Institute. Director, Economics Research Program, 1988-90 and 1995-96, Santa Fe Institute
Ph.D in Operations Research, Univ. Calif. Berkeley, 1973; MA in Mathematics, Univ. Mich., Ann Arbor,1969
Research Interests
Increasing Returns. I spent much of the 1980s developing a theoretical framework for economic allocation under increasing returns, in particular studying the dynamics of lock-in to one of many possible equilibria under the influence of small, random events. (Several of my papers are collected in my 1994 book Increasing Returns and Path Dependence in the Economy. ) High technology operates under increasing returns, and to the degree modern economies are shifting toward high technology, the different economics of increasing returns alters the character of competition, business culture, and appropriate government policy in these economies
Cognition and Economics. Standard economics typically assumes economic agents who face well-defined problems, and formulate their actions via some form of optimizing, deductive logic. In actuality many situations in the economy are indeterminate--a prime example is the El Farol problem. I am interested in such "pockets of indeterminacy," and in formulating economic theory for how human agents "cognize" problems, and how they operate under indeterminacy
Technology and the Modern Economy. In the new high-tech era, the economy evolves as technology evolves. But how exactly does technology evolve? Is an economy that structures itself around high technologies different from a standard manufacturing economy? How does the information technology revolution play out in the modern economy? These are some of the questions I am currently thinking and writing about. |
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2 books found | |
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2 books found | | | |
