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Rethinking Economics Using Complexity Theory

In this paper we argue that if we want to find a more satisfactory approach to tackling the major socio-economic problems we are facing, we need to thoroughly rethink the basic assumptions of macroeconomics and financial theory. Making minor modifications to the standard models to remove “imperfections” is not enough, the whole framework needs to be revisited.

 

Dirk Helbing and Alan Kirman: Rethinking Economics Using Complexity Theory http://www.soms.ethz.ch/paper_economics_complexity_theory


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ComplexInsight's curator insight, April 26, 2013 2:16 AM

One for some travel-time reading.

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Hit the reset button in your brain

Hit the reset button in your brain | Computational Economics | Scoop.it
Vacation isn’t a luxury. Neither is daydreaming. Don’t skimp.
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Rescooped by lapateon from Complex World
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A mathematical theory proposed by Alan Turing in 1952 can explain the formation of fingers

A mathematical theory proposed by Alan Turing in 1952 can explain the formation of fingers | Computational Economics | Scoop.it
Alan Turing, the British mathematician (1912-1954), is famous for a number of breakthroughs, which altered the course of the 20th century. In 1936 he published a paper, which laid the foundation of computer science, providing the first formal concept of a computer algorithm. He next played a pivotal role in the Second World War, designing the machines which cracked the German military codes, enabling the Allies to defeat the Nazis in several crucial battles. And in the late 1940's he turned his attention to artificial intelligence and proposed a challenge, now called the Turing test, which is still important to the field today. His contribution to mathematical biology is less famous, but was no less profound. He published just one paper (1952), but it triggered a whole new field of mathematical enquiry into pattern formation. He discovered that a system with just 2 molecules could, at least in theory, create spotty or stripy patterns if they diffused and chemically interacted in just the right way. His mathematical equations showed that starting from uniform condition (ie. a homogeneous distribution – no pattern) they could spontaneously self-organise their concentrations into a repetitive spatial pattern. This theory has come to be accepted as an explanation of fairly simple patterns such as zebra stripes and even the ridges on sand dunes, but in embryology it has been resisted for decades as an explanation of how structures such as fingers are formed. Now a group of researchers from the Multicellular Systems Biology lab at the CRG, led by ICREA Research Professor James Sharpe, has provided the long sought-for data which confirms that the fingers and toes are patterned by a Turing mechanism. "It complements their recent paper (Science 338:1476, 2012), which provided evidence that Hox genes and FGF signaling modulated a hypothetical Turing system. However, at that point the Turing molecules themselves were still not identified, and so this remained as the critical unsolved piece of the puzzle. The new study completes the picture, by revealing which signaling molecules act as the Turing system" says James Sharpe, co-author of the study.
Via Claudia Mihai
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Coding for Kindergarteners

Coding for Kindergarteners | Computational Economics | Scoop.it
Teaching young children to code is far from a tedious exercise with the thoughtful, age-appropriate use of game-like apps and robotic devices.

Via Pierre Levy
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4 Data Visualization Approaches Any Researcher Can Take

4 Data Visualization Approaches Any Researcher Can Take | Computational Economics | Scoop.it
Jeff Knezovich, form the On Think Tanks Data Visualisation Competition, has produced a Buzzfeed on the winners. It is worth checking out on two accounts: it outlines really interesting examples of ...

Via Siarhei Mardovich
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The GDELT Project: realtime network diagram and database of global human society for open research | #opendata

The GDELT Project: realtime network diagram and database of global human society for open research | #opendata | Computational Economics | Scoop.it
The GDELT Project

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luiy's curator insight, June 7, 6:50 PM

The GDELT Project is a realtime network diagram and database of global human society for open research Watching The Entire World

GDELT monitors the world's news media from nearly every corner of every country in print, broadcast, and web formats, in over 100 languages, every moment of every day.

 


Global Reach

 

GDELT monitors print, broadcast, and web news media in over 100 languages from across every country in the world to keep continually updated on breaking developments anywhere on the planet. Its historical archives stretch back to January 1, 1979 and update daily (soon to be every 15 minutes). Through its ability to leverage the world's collective news media, GDELT moves beyond the focus of the Western media towards a far more global perspective on what's happening and how the world is feeling about it.

 

 

Querying, Analyzing and Downloading

 

The entire GDELT database is 100% free and open and you can
download the raw datafiles, visualize it using the GDELT Analysis Service, or analyze it at limitless scale with Google BigQuery.

 

Rescooped by lapateon from Digital Presentations in Education
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Preso.tv - present on any device

Preso.tv - present on any device | Computational Economics | Scoop.it

Preso.tv is the first and only hassle-free way for anyone to present their Powerpoint, PDF, and Word documents on smart devices and computers anywhere in the world, in real-time.

Currently in beta, Preso.tv is a free service that doesn’t require account registration. Users simply go to http://preso.tv, upload their file, and start the broadcast. Presenters can use an Android device or a PC or Mac, while viewers may use any brand of smart device or computer.


Via Baiba Svenca
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tina bucci's curator insight, May 2, 2:13 AM

Nice tool to use in the class. It also works well with Iphone .

Agora Abierta's curator insight, May 3, 5:18 AM

Presentaciones online en tiempo real al instante. Sólo coge, arrastra y lo tienes.

Alfredo Corell's curator insight, May 3, 2:45 PM

Upload your PowerPoint, Word or PDF files to Preso.tv and use any device.

You don't need to create accounts, and it's completely free!!!!

Rescooped by lapateon from Complexity - Complex Systems Theory
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Behavioral and Network Origins of Wealth Inequality: Insights from a Virtual World

Almost universally, wealth is not distributed uniformly within societies or economies. Even though wealth data have been collected in various forms for centuries, the origins for the observed wealth-disparity and social inequality are not yet fully understood. Especially the impact and connections of human behavior on wealth could so far not be inferred from data. Here we study wealth data from the virtual economy of the massive multiplayer online game (MMOG) Pardus. This data not only contains every player's wealth at every point in time, but also all actions of every player over a timespan of almost a decade. We find that wealth distributions in the virtual world are very similar to those in western countries. In particular we find an approximate exponential for low wealth and a power-law tail. The Gini index is found to be 0.65, which is close to the indices of many Western countries. We find that wealth-increase rates depend on the time when players entered the game. Players that entered the game early on tend to have remarkably higher wealth-increase rates than those who joined later. Studying the players' positions within their social networks, we find that the local position in the trade network is most relevant for wealth. Wealthy people have high in- and out-degree in the trade network, relatively low nearest-neighbor degree and a low clustering coefficient. Wealthy players have many mutual friendships and are socially well respected by others, but spend more time on business than on socializing. We find that players that are not organized within social groups with at least three members are significantly poorer on average. We observe that high `political' status and high wealth go hand in hand. Wealthy players have few personal enemies, but show animosity towards players that behave as public enemies.
Via Bernard Ryefield
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How bad data can lead to good decisions (sometimes) - Computerworld (blog)

How bad data can lead to good decisions (sometimes) - Computerworld (blog) | Computational Economics | Scoop.it
“How bad data can lead to good decisions (sometimes) Computerworld (blog) Contaminated data is a fact of life in statistics and econometrics.”
lapateon's insight:
Garbage in, good decisions out
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Network Science Book - you can download the book here | #SNA

Network Science Book - you can download the book here | #SNA | Computational Economics | Scoop.it
“ The power of network science, the beauty of network visualization.”
Via Claude Emond, luiy
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Rescooped by lapateon from Philosophy and Complexity
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What kind of science is computational science? A rebuttal.

What kind of science is computational science? A rebuttal. | Computational Economics | Scoop.it
“ Tamara Kolda (Sandia National Laboratories) writes: Recently, physicist Rhett Allain posted a Wired Science blog entry entitled, What kind of science is computational science?.”
Via John Symons
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What separates us from other animals?

What separates us from other animals? | Computational Economics | Scoop.it
We are unlike any other animal, but the differences are surprisingly difficult to pin down.
Via Luca Baptista
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Rescooped by lapateon from Complexity - Complex Systems Theory
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How Can the Study of Complexity Transform Our Understanding of the World?

How Can the Study of Complexity Transform Our Understanding of the World? | Computational Economics | Scoop.it

The “study of complexity” refers to the attempt to find common principles underlying the behavior of complex systems—systems in which large collections of components interact in nonlinear ways. Here, the term nonlinear implies that the system can’t be understood simply by understanding its individual components; nonlinear interactions cause the whole to be “more than the sum of its parts.”

 

How Can the Study of Complexity Transform Our Understanding of the World?

Melanie Mitchell

https://www.bigquestionsonline.com/content/how-can-study-complexity-transform-our-understanding-world


Via Complexity Digest, Bernard Ryefield
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António F Fonseca's curator insight, January 22, 4:45 AM

Wonderful and clarifying text.

Lorien Pratt's curator insight, January 22, 11:20 PM

One of my favorite complexity authors.  An excerpt: "In the past it was widely assumed that such phenomena are hard to predict because the underlying processes are highly complex, and that random factors must play a key role.  However, Complex Systems science—especially the study of dynamics and chaos—have shown that complex behavior and unpredictability can arise in a system even if the underlying rules are extremely simple and completely deterministic.  Often, the key to complexity is the iteration over time of simple, though nonlinear, interaction rules among the system’s components."


This insight is at the core of Decision Intelligence, which adds an understanding of these emergent behaviors to the usual big data/predictive analytics/optimization stack.

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Advanced imaging reveals a computer 1,500 years ahead of its time

Advanced imaging reveals a computer 1,500 years ahead of its time | Computational Economics | Scoop.it
X-rays and advanced photography have uncovered the true complexity of the mysterious Antikythera mechanism, a device so astonishing that its discovery is like finding a functional Buick in medieval Europe.
Via Luca Baptista
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Rescooped by lapateon from Digital Presentations in Education
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Office Mix: Intro

Office Mix: Intro | Computational Economics | Scoop.it
“Office Mix: Intro, by Office Mix, Welcome to Office Mix! This is the first in a series of How-To videos designed to walk you through creating your very first Mix. In this video you will learn where to download the PowerPoint Add-In and how to get started. Happy Mixing!”
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Baiba Svenca's curator insight, August 6, 12:27 PM

Office Mix is a new PowerPoint 2013 plugin which lets you enrich your PowerPoint presentations by adding a voice narrative, recording a video, creating and inserting quizzes or making a screencast.

Looks perfect for using in teaching!

Download Office Mix at https://mix.office.com/Home/GettingStarted

Training in Business's curator insight, August 7, 3:24 AM

Office Mix: Intro 

Tony Guzman's curator insight, August 11, 11:34 AM

Office Mix beta is now open for the general public. I will be testing this add-on over the next couple of months but it looks like a solid tool for any educator to include within their Office apps.

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The First Glimpse of the Glogster EDU iPad App

The First Glimpse of the Glogster EDU iPad App | Computational Economics | Scoop.it
“Our long-awaited app is in the final stages of beta testing, and the release date is approaching quickly. The Glogster team is hard at work ensuring that all our great new features are available to...”
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Baiba Svenca's curator insight, July 27, 11:54 AM

You may know that glogster.com is going to retire but we can all continue/start using edu.glogster.com for creating amazing multimedia posters/ presentations/ glogs.

They are releasing an iPad app that for many people will replace the old browser tool.

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Chart.js | #HTML5 #Charts for your website | #dataviz #tools

Chart.js | #HTML5 #Charts for your website | #dataviz #tools | Computational Economics | Scoop.it
Open source HTML5 charts using the canvas tag. Chart.js is an easy way to include animated graphs on your website.

Via luiy
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luiy's curator insight, June 12, 11:30 AM
Easy, object oriented client side graphs for designers and developers
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Vittle: Turn your iPad into a Recordable Video Whiteboard

Vittle: Turn your iPad into a Recordable Video Whiteboard | Computational Economics | Scoop.it

Vittle lets you quickly capture any idea, and share them with anyone to view on their own time.

Vittle works like a magic whiteboard that records what you write and say:

Annotate and sketch using the ultra-smooth ink of our proprietary Inkflow Engine,Resize and move anything around the page,Zoom in to focus on key points,Visually navigate through even complex topics.

Use Vittle to build a video library on any subject. It is also a powerful tool for collaborating across time and space with any number of people.


Via Nik Peachey, Linda Stacey
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Georgia Wemyss's curator insight, August 29, 2013 8:14 PM

Looks like a good idea. Especially since you become the owner of the work and it is not stored on a third party site...

Vicki Mast's curator insight, September 13, 2013 11:24 AM

I just downloaded the free version which looks good, but may have to upgrade. The features look well worth the $3.99 price. You can move & resize your drawn objects, zoom in/out, etc. If you're working on creating "flipped classroom" videos, or how-to tutorials this may be what you need. Check out their website and user guide for the details.

D G Stevenson's curator insight, December 9, 2013 9:01 AM

Useful for explaining concepts in a visually interesting way. 

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How Not to Be Wrong: The Power of Mathematical Thinking (by Jordan Ellenberg)

How Not to Be Wrong: The Power of Mathematical Thinking

~ Jordan Ellenberg (author) More about this product
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The math we learn in school can seem like a dull set of rules, laid down by the ancients and not to be questioned. In How Not to Be Wrong, Jordan Ellenberg shows us how terribly limiting this view is: Math isn’t confined to abstract incidents that never occur in real life, but rather touches everything we do—the whole world is shot through with it. Math allows us to see the hidden structures underneath the messy and chaotic surface of our world. It’s a science of not being wrong, hammered out by centuries of hard work and argument. Armed with the tools of mathematics, we can see through to the true meaning of information we take for granted: How early should you get to the airport? What does “public opinion” really represent? Why do tall parents have shorter children? Who really won Florida in 2000? And how likely are you, really, to develop cancer? How Not to Be Wrong presents the surprising revelations behind all of these questions and many more, using the mathematician’s method of analyzing life and exposing the hard-won insights of the academic community to the layman—minus the jargon. Ellenberg chases mathematical threads through a vast range of time and space, from the everyday to the cosmic, encountering, among other things, baseball, Reaganomics, daring lottery schemes, Voltaire, the replicability crisis in psychology, Italian Renaissance painting, artificial languages, the development of non-Euclidean geometry, the coming obesity apocalypse, Antonin Scalia’s views on crime and punishment, the psychology of slime molds, what Facebook can and can’t figure out about you, and the existence of God. Ellenberg pulls from history as well as from the latest theoretical developments to provide those not trained in math with the knowledge they need. Math, as Ellenberg says, is “an atomic-powered prosthesis that you attach to your common sense, vastly multiplying its reach and strength.” With the tools of mathematics in hand, you can understand the world in a deeper, more meaningful way. How Not to Be Wrong will show you how.

 

 


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You SHOULD KNOW these - A List of Useful Educational Websites

You SHOULD KNOW these - A List of Useful Educational Websites | Computational Economics | Scoop.it
“Imgur is home to the web's most popular image content, curated in real time by a dedicated community through commenting, voting and sharing.”
Via Susan Bainbridge, Rui Guimarães Lima, massimo facchinetti, association concert urbain, Dominique Demartini, Pierre Levy
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Happy Pi Day! It's also Albert Einstein's birthday

Happy Pi Day! It's also Albert Einstein's birthday | Computational Economics | Scoop.it
Today is March 14th, or 3/14. And that makes it Pi Day -- the day where math nerds across the country gather to eat pie and discuss the importance of numbers. But did you know it's also Albert Einstein's birthday?
Via Luca Baptista
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Network Science Book - you can download the book here | #SNA

Network Science Book - you can download the book here | #SNA | Computational Economics | Scoop.it
“ The power of network science, the beauty of network visualization.”
Via Claude Emond, luiy
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Teaching Economics? Start with Key Contested Ideas

Teaching Economics? Start with Key Contested Ideas | Computational Economics | Scoop.it
“ How economics is taught has been the subject of a lot of debate recently. Although there have been a lot of good points made, in my opinion Andrew Lainton's recent blog post hits the nail on the he...”
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Dynamics and spatial distribution of global nighttime lights

Dynamics and spatial distribution of global nighttime lights | Computational Economics | Scoop.it
Using open source data, we observe the fascinating dynamics of nighttime light. Following a global economic regime shift, the planetary center of light can be seen moving eastwards at a pace of about 60 km per year. Introducing spatial light Gini coefficients, we find a universal pattern of human settlements across different countries and see a global centralization of light. Observing 160 different countries we document the expansion of developing countries, the growth of new agglomerations, the regression in countries suffering from demographic decline and the success of light pollution abatement programs in western countries.Dynamics and spatial distribution of global nighttime lightsPeter Cauwels, Nicola Pestalozzi and Didier SornetteEPJ Data Science 2014, 3:2 http://dx.doi.org/10.1140/epjds19
Via Claudia Mihai, Complexity Digest
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Rescooped by lapateon from Digital Presentations in Education
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13+1 tips to reduce presentation anxiety

“ Are you nervous before giving a presentation? This deck explains why are we afraid of public speaking and offers some tips to cope with presentation anxiety.”
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Toufee - create flash movies without programming

Toufee - create flash movies without programming | Computational Economics | Scoop.it
The traditional approach to flash movie making has been to use complicated desktop software which are difficult to learn and require advanced programming skills. Toufee on the other hand requires absolutely no technical skills, and its so simple to use that you can get started instantly! Toufee is the only flash Maker that supports YouTube!
Via Baiba Svenca
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