Monthly Archives: February 2013

Market Competition: Tipping over the Threshold of Unstable Equilibrium

Posted on February 25, 2013 by Andrew Zanegin

One cannot find the notion of unstable equilibrium in the analytical toolbox of mainstream Economics. The instability of markets, of course, is a hot subject nowadays. We owe the knowledge of many different aspects of market instability to John M. … Continue reading →

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Thoughts on unpredictability, reflexivity, and complexity of economic systems

Posted on February 8, 2013 by Andrew Zanegin

Having in mind epistemological problems of mainstream economics, I cannot help returning to G. Soros’s philosophy of reflexivity. I tried to keep within this mental framework in my article  “What is Missing in Microeconomics Textbooks”, dealing with economic expectations and … Continue reading →

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