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Computable Foundations for Economics

Computable Foundations for Economics Author K. Vela Velupillai
ISBN-10 9781134253371
Release 2012-07-26
Pages 512
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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.



Computable Constructive Behavioural Economic Dynamics

Computable  Constructive   Behavioural Economic Dynamics Author Stefano Zambelli
ISBN-10 9781135272531
Release 2010-02-25
Pages 464
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In this volume in honour of K. Vela Velupillai, figuers such as Jean-Paul Fitoussi, Paul Samuelson and Robert Solow present cutting edge research in the fields of computability theory, economic dynamics and macroeconomic theory and policy.



Introduction to Computable General Equilibrium Models

Introduction to Computable General Equilibrium Models Author Mary E. Burfisher
ISBN-10 9781316889374
Release 2017-01-31
Pages
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This book provides an accessible, undergraduate-level introduction to computable general equilibrium (CGE) models, a class of model that has come to play an important role in government policy decisions. The book uses a graphical approach to explain the economic theory that underlies a CGE model, and provides results from simple, small-scale CGE models to illustrate the links between theory and model outcomes. The book includes eleven guided, hands-on exercises that introduce modeling techniques that are applied to real-world economic problems. Students will learn how to integrate their separate fields of economic study into a comprehensive, general equilibrium perspective as they develop their skills as producers or consumers of CGE-based analysis.



Nonlinearity Complexity and Randomness in Economics

Nonlinearity  Complexity and Randomness in Economics Author Stefano Zambelli
ISBN-10 9781118300428
Release 2011-12-02
Pages 256
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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



Neuroscience and the Economics of Decision Making

Neuroscience and the Economics of Decision Making Author Alessandro Innocenti
ISBN-10 9781136333743
Release 2013-06-19
Pages 224
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In the last two decades there has been a flourishing research carried out jointly by economists, psychologists and neuroscientists. This meltdown of competences has lead towards original approaches to investigate the mental and cognitive mechanisms involved in the way the economic agent collects, processes and uses information to make choices. This research field involves a new kind of scientist, trained in different disciplines, familiar in managing experimental data, and with the mathematical foundations of decision making. The ultimate goal of this research is to open the black-box to understandthe behavioural and neural processes through which humans set preferences and translate these behaviours into optimal choices. This volume intends to bring forward new results and fresh insights into this matter.



Computability Complexity Logic

Computability  Complexity  Logic Author E. Börger
ISBN-10 008088704X
Release 1989-07-01
Pages 591
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The theme of this book is formed by a pair of concepts: the concept of formal language as carrier of the precise expression of meaning, facts and problems, and the concept of algorithm or calculus, i.e. a formally operating procedure for the solution of precisely described questions and problems. The book is a unified introduction to the modern theory of these concepts, to the way in which they developed first in mathematical logic and computability theory and later in automata theory, and to the theory of formal languages and complexity theory. Apart from considering the fundamental themes and classical aspects of these areas, the subject matter has been selected to give priority throughout to the new aspects of traditional questions, results and methods which have developed from the needs or knowledge of computer science and particularly of complexity theory. It is both a textbook for introductory courses in the above-mentioned disciplines as well as a monograph in which further results of new research are systematically presented and where an attempt is made to make explicit the connections and analogies between a variety of concepts and constructions.



The Economics of Search

The Economics of Search Author Brian McCall
ISBN-10 9781134422357
Release 2007-12-13
Pages 576
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The economics of search is a prominent component of economic theory, and it has a richness and elegance that underpins a host of practical applications. In this book Brian and John McCall present a comprehensive overview of the economic theory of search, from the classical model of job search formulated 40 years ago to the recent developments in equilibrium models of search. The book gives decision-theoretic foundations to seemingly slippery issues in labour market theory, estimation theory and economic dynamics in general, and surveys the entire field of the economics of search, including its history, theory, and econometric applications. Theoretical models of the economics of search are covered as well as estimation methods used in search theory and topics covered include job search, turnover, unemployment, liquidity, house selling, real options and auctions. The mathematical methods used in search theory such as dynamic programming are reviewed as well as structural estimation methods and econometric methods for duration models. The authors also explore the classic sequential search model and its extensions in addition to recent advances in equilibrium search theory.



New Developments in Computable General Equilibrium Analysis for Trade Policy

New Developments in Computable General Equilibrium Analysis for Trade Policy Author John Gilbert
ISBN-10 9780857241412
Release 2010
Pages 434
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The aim of the proposed volume will be to present new developments in the methodology and practice of CGE techniques as they apply to recent issues in international trade policy. The volume will be of interest to academic researchers working in trade policy analysis and applied general equilibrium, advanced graduate students in international economics, applied researchers in multilateral organizations, and policymakers who need to work with and interpret the results of CGE analysis.



Nonlinearity Complexity and Randomness in Economics

Nonlinearity  Complexity and Randomness in Economics Author Stefano Zambelli
ISBN-10 9781118300435
Release 2012-01-17
Pages 262
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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



Designing Public Policies

Designing Public Policies Author Francisco J. André
ISBN-10 3642121837
Release 2010-09-14
Pages 180
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This monograph provides a novel approach to the evaluation of economic policy by combining two different analytical strategies. On the one hand, the computable general equilibrium (CGE) analysis, a standard tool mostly used to quantify the impact of economic measures or changes in the structural data of the economy. On the other hand, the multiple criteria decision-making (MCDM) approach, an op- misation technique that deals with problems with more than one objective. Ty- cally, CGE is well suited for the analysis of the interactions of multiple agents from the point of view of a planner single objective. Combining this technique with the MCDM approach allows developing models in which we ?nd many interacting agents and a decision maker with several objectives. The contribution of this work is partly methodological and partly applied. It provides a framework for the analysis of this type of problems, as well as a series of applications in which the strength of the approach is made clear. The consideration of environmental problems, as a speci?c ?eld in which this technique of analysis can be used, is particularly well chosen. The environmental concern keeps growing steadily and has already become an issue in most of the standard economic decisions. It is therefore extremely important to ?nd systematic ways to introduce such a concern in the models with which we evaluate the impact of policy measures.



Computable Constructive Behavioural Economic Dynamics

Computable  Constructive   Behavioural Economic Dynamics Author Stefano Zambelli
ISBN-10 9781135272531
Release 2010-02-25
Pages 464
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In this volume in honour of K. Vela Velupillai, figuers such as Jean-Paul Fitoussi, Paul Samuelson and Robert Solow present cutting edge research in the fields of computability theory, economic dynamics and macroeconomic theory and policy.



Models of Simon

Models of Simon Author Kumaraswamy Vela Velupillai
ISBN-10 9781134385454
Release 2017-11-22
Pages 200
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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.



Foundations of Economic Science

Foundations of Economic Science Author Mohammad Osman Gani
ISBN-10 984320655X
Release 2003
Pages 272
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Foundations of Economic Science has been writing in one form or another for most of life. You can find so many inspiration from Foundations of Economic Science also informative, and entertaining. Click DOWNLOAD or Read Online button to get full Foundations of Economic Science book for free.



The New Generation of Computable General Equilibrium Models

The New Generation of Computable General Equilibrium Models Author Federico Perali
ISBN-10 9783319585338
Release 2018-05-02
Pages 342
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This book covers some important topics in the construction of computable general equilibrium (CGE) models and examines use of these models for the analysis of economic policies, their properties, and their implications. Readers will find explanation and discussion of the theoretical structure and practical application of several model typologies, including dynamic, stochastic, micro-macro, and simulation models, as well as different closure rules and policy experiments. The presentation of applications to various country and problem-specific case studies serves to provide an informed and clearly articulated summary of the state of the art and the most important methodological advancements in the field of policy modeling within the framework of general equilibrium analysis. The book is an outcome of a recent workshop of the Italian Development Economists Association attended by a group of leading practitioners involved in the generation of CGE models and research on modeling the economy and policy making. It will be of interest to researchers, professional economists, graduate students, and knowledgeable policy makers.



Logical Foundations of Mathematics and Computational Complexity

Logical Foundations of Mathematics and Computational Complexity Author Pavel Pudlák
ISBN-10 9783319001197
Release 2013-04-22
Pages 695
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The two main themes of this book, logic and complexity, are both essential for understanding the main problems about the foundations of mathematics. Logical Foundations of Mathematics and Computational Complexity covers a broad spectrum of results in logic and set theory that are relevant to the foundations, as well as the results in computational complexity and the interdisciplinary area of proof complexity. The author presents his ideas on how these areas are connected, what are the most fundamental problems and how they should be approached. In particular, he argues that complexity is as important for foundations as are the more traditional concepts of computability and provability. Emphasis is on explaining the essence of concepts and the ideas of proofs, rather than presenting precise formal statements and full proofs. Each section starts with concepts and results easily explained, and gradually proceeds to more difficult ones. The notes after each section present some formal definitions, theorems and proofs. Logical Foundations of Mathematics and Computational Complexity is aimed at graduate students of all fields of mathematics who are interested in logic, complexity and foundations. It will also be of interest for both physicists and philosophers who are curious to learn the basics of logic and complexity theory.



Post Crash Economics

Post Crash Economics Author Omar Feraboli
ISBN-10 9783319658551
Release 2017-12-20
Pages 265
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This book demonstrates the continuing relevance of economics for understanding the world, through a restatement of the importance of plurality and heterodox ideas for teaching and research. The Great Financial Crash of 2007–8 gave rise to a widespread critique of economics for its inability to explain the most significant economic event since the 1930s. The current straightjacket of neo-classical undergraduate economic teaching and research hinders students’ understanding of the world they live in. The chapters in this book provide examples to demonstrate the importance of pluralistic and heterodox ideas from across the breadth of economics. The authors’ plurality of approach is indicative of the fact that economics is a much broader discipline than the dominant neo-classical orthodoxy would suggest. This volume provides undergraduate students with a range of alternative ideas and university lecturers with examples whereby the curricula have been broadened to include pluralist and heterodox ideas.



The Foundations of Computability Theory

The Foundations of Computability Theory Author Borut Robič
ISBN-10 9783662448083
Release 2015-09-14
Pages 331
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This book offers an original and informative view of the development of fundamental concepts of computability theory. The treatment is put into historical context, emphasizing the motivation for ideas as well as their logical and formal development. In Part I the author introduces computability theory, with chapters on the foundational crisis of mathematics in the early twentieth century, and formalism; in Part II he explains classical computability theory, with chapters on the quest for formalization, the Turing Machine, and early successes such as defining incomputable problems, c.e. (computably enumerable) sets, and developing methods for proving incomputability; in Part III he explains relative computability, with chapters on computation with external help, degrees of unsolvability, the Turing hierarchy of unsolvability, the class of degrees of unsolvability, c.e. degrees and the priority method, and the arithmetical hierarchy. This is a gentle introduction from the origins of computability theory up to current research, and it will be of value as a textbook and guide for advanced undergraduate and graduate students and researchers in the domains of computability theory and theoretical computer science.