Computable Foundations For Economics
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Computable Foundations For Economics
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Author : K. Vela Velupillai
language : en
Publisher: Routledge
Release Date : 2012-07-26
Computable Foundations For Economics written by K. Vela Velupillai and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-26 with Business & Economics categories.
Computable Foundations for Economics is a unified collection of essays, some of which are published here for the first time and all of which have been updated for this book, on an approach to economic theory from the point of view of algorithmic mathematics. By algorithmic mathematics the author means computability theory and constructive mathematics. This is in contrast to orthodox mathematical economics and game theory, which are formalised with the mathematics of real analysis, underpinned by what is called the ZFC formalism, i.e., set theory with the axiom of choice. This reliance on ordinary real analysis and the ZFC system makes economic theory in its current mathematical mode completely non-algorithmic, which means it is numerically meaningless. The book provides a systematic attempt to dissect and expose the non-algorithmic content of orthodox mathematical economics and game theory and suggests a reformalization on the basis of a strictly rigorous algorithmic mathematics. This removes the current schizophrenia in mathematical economics and game theory, where theory is entirely divorced from algorithmic applicability – for experimental and computational exercises. The chapters demonstrate the uncomputability and non-constructivity of core areas of general equilibrium theory, game theory and recursive macroeconomics. The book also provides a fresh look at the kind of behavioural economics that lies behind Herbert Simon’s work, and resurrects a role for the noble classical traditions of induction and verification, viewed and formalised, now, algorithmically. It will therefore be of particular interest to postgraduate students and researchers in algorithmic economics, game theory and classical behavioural economics.
Nonlinearity Complexity And Randomness In Economics
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Author : Stefano Zambelli
language : en
Publisher: John Wiley & Sons
Release Date : 2012-01-17
Nonlinearity Complexity And Randomness In Economics written by Stefano Zambelli and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-17 with Business & Economics categories.
Nonlinearity, Complexity and Randomness in Economics presents a variety of papers by leading economists, scientists, and philosophers who focus on different aspects of nonlinearity, complexity and randomness, and their implications for economics. A theme of the book is that economics should be based on algorithmic, computable mathematical foundations. Features an interdisciplinary collection of papers by economists, scientists, and philosophers Presents new approaches to macroeconomic modelling, agent-based modelling, financial markets, and emergent complexity Reveals how economics today must be based on algorithmic, computable mathematical foundations
Computable Economics
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Author : Kumaraswamy Velupillai
language : en
Publisher:
Release Date : 2000
Computable Economics written by Kumaraswamy Velupillai and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
In the field of economic analysis, computability in the formation of economic hypotheses is seen as the way forward. In this book, Professor Velupillai implements a theoretical research program along these lines. Choice theory, learning rational expectations equlibria, the persistence of adaptive behavior, arithmetical games, aspects of production theory, and economic dynamics are given recursion theoretic (i.e. computable) interpretations.
Computable Economics
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Author :
language : en
Publisher:
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Computable Economics written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Computable Economics
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Author : K. Velupillai
language : en
Publisher: OUP Oxford
Release Date : 2000-01-06
Computable Economics written by K. Velupillai and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-01-06 with Business & Economics categories.
In the field of economic analysis, computability in the formation of economic hypotheses is seen as the way forward. In this book, Professor Velupillai implements a theoretical research program along these lines. Choice theory, learning rational expectations equlibria, the persistence of adaptive behaviour, arithmetical games, aspects of production theory, and economic dynamics are given recursion theoretic (i.e. computable) interpretations. These interpretations lead to new kinds of questions being posed by the economic theorist. In particular, recurison theoretic decision problems replace standard optimisation paradigms in economic analysis. Economic theoretic questions, posed recursion-theoretically, lead to answers that are ambiguous: undecidable choices, uncomputable learning processes, and algorithmically unplayable games become standard answers. Professor Velupillai argues that a recursion theoretic formalisation of economic analysisComputable Economicsmakes the subject intrinsically inductive and computational.
Computable Constructive Behavioural Economic Dynamics
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Author : Stefano Zambelli
language : en
Publisher: Routledge
Release Date : 2010-02-25
Computable Constructive Behavioural Economic Dynamics written by Stefano Zambelli and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-25 with Business & Economics categories.
The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences.
Computable Foundations For Economics
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Author : K. Vela Velupillai
language : en
Publisher: Routledge
Release Date : 2012-07-26
Computable Foundations For Economics written by K. Vela Velupillai and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-26 with Business & Economics categories.
Computable Foundations for Economics is a unified collection of essays, some of which are published here for the first time and all of which have been updated for this book, on an approach to economic theory from the point of view of algorithmic mathematics. By algorithmic mathematics the author means computability theory and constructive mathematics. This is in contrast to orthodox mathematical economics and game theory, which are formalised with the mathematics of real analysis, underpinned by what is called the ZFC formalism, i.e., set theory with the axiom of choice. This reliance on ordinary real analysis and the ZFC system makes economic theory in its current mathematical mode completely non-algorithmic, which means it is numerically meaningless. The book provides a systematic attempt to dissect and expose the non-algorithmic content of orthodox mathematical economics and game theory and suggests a reformalization on the basis of a strictly rigorous algorithmic mathematics. This removes the current schizophrenia in mathematical economics and game theory, where theory is entirely divorced from algorithmic applicability – for experimental and computational exercises. The chapters demonstrate the uncomputability and non-constructivity of core areas of general equilibrium theory, game theory and recursive macroeconomics. The book also provides a fresh look at the kind of behavioural economics that lies behind Herbert Simon’s work, and resurrects a role for the noble classical traditions of induction and verification, viewed and formalised, now, algorithmically. It will therefore be of particular interest to postgraduate students and researchers in algorithmic economics, game theory and classical behavioural economics.
Models Of Simon
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Author : Kumaraswamy Vela Velupillai
language : en
Publisher: Routledge
Release Date : 2017-11-22
Models Of Simon written by Kumaraswamy Vela Velupillai and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-22 with Business & Economics categories.
Herbert Simon (1916-2001) is mostly celebrated for the theory of bounded rationality and satisficing. This book of essays on Models of Simon tackles these topics that the he broached in a professional career spanning more than 60 years. Expository material on the fundamental concepts he introduced are re-interpreted in terms of the theory of computability. This volume frames the behavioural issues of concern for economists, such as: hierarchy, causality, near-diagonal linear dynamical systems, discovery, the contrasts between the notion of heuristics, and the Church-Turing Thesis of Computability Theory. There is, consistently, an emphasis on the historical origins of the concepts Simon worked with, in emphasising Human Problem Solving and Decision Making – by rational individuals and institutions (like Organizations). The main feature of the results in the book are its emphasis on the procedural aspects of human problem solving, decision making and the remarkable way Simon harnessed many tools of mathematical logic, mathematics, cognitive sciences, economics and econometrics. This long-awaited volume is an important read for those who study economic theory and philosophy, microeconomics and political economy, as well as those interested in the great Herbert Simon’s work.
Computability Complexity And Constructivity In Economic Analysis
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Author : K. Vela Velupillai
language : en
Publisher: Wiley-Blackwell
Release Date : 2005-05-13
Computability Complexity And Constructivity In Economic Analysis written by K. Vela Velupillai and has been published by Wiley-Blackwell this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-05-13 with Business & Economics categories.
This cutting-edge collection of essays develops an economic theory based on the mathematics of the digital computer. A cutting-edge collection of essays, which develops an economic theory based on the mathematics of the digital computer. Proposes a wholly different mathematical foundation for economic theory and applied economics. The contributors supply explicit formalizations and applications to traditional issues in economic analysis. Each chapter presents new theoretical perspectives and results, and novel conceptual definitions.
Computable Economics
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Author : Kumaraswamy Velupillai
language : en
Publisher:
Release Date : 2000
Computable Economics written by Kumaraswamy Velupillai and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Economics, Mathematical categories.
This text implements a theoretical research programme on computability in the formation of economic hypotheses. It argues that a recursion theoretic formalization of economic analysis makes the subject intrinsically inductive and computational.