Masanao Aoki developed a new methodology for a basic problem of economics: deducing rigorously the macroeconomic dynamics as emerging from the interactions of many individual agents. This includes deduction of the fracta/intermittent fluctuations of macroeconomic quantities from the granularity...

Masanao Aoki developed a new methodology for a basic problem of economics: deducing rigorously the macroeconomic dynamics as emerging from the interactions of many individual agents. This includes deduction of the fractal / intermittent fluctuations of macroeconomic quantities from the...

We study analytically and numerically Minsky instability as a combination of top-down, bottom-up and peer-to-peer positive feedback loops. The peer-to-peer interactions are represented by the links of a network formed by the connections between firms, contagion leading to avalanches and...

The primordial confrontation underlying the existence of our universe can be conceived as the battle between entropy and complexity. The law of ever-increasing entropy (Boltzmann H-theorem) evokes an irreversible, one-directional evolution (or rather involution) going uniformly and monotonically...

Masanao Aoki developed a new methodology for a basic problem of economics: deducing rigorously the macroeconomic dynamics as emerging from the interactions of many individual agents. This includes deduction of the fractal/intermittent fluctuations of macroeconomic quantities from the granularity...

We study analytically and numerically Minsky instability as a combination of top-down, bottom-up and peer-to-peer positive feedback loops. The peer-to-peer interactions are represented by the links of a network formed by the connections between firms; contagion leading to avalanches and...

We study analytically and numerically Minsky instability as a combination of top–down, bottom–up and peer-to-peer positive feedback loops. The peer-to-peer interactions are represented by the links of a network formed by the connections between firms; contagion leading to avalanches and...