
Computable Economics
The Arne Ryde Memorial Lectures
K. Velupillai(Author)
Oxford University Press
Published on 6. January 2000
Book
Hardback
236 pages
978-0-19-829527-3 (ISBN)
Description
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.
Reviews / Votes
... rich in ideas and problems and may inspire research work of specialists in mathematical economics. * Zentralblatt MATH * This fascinating book is based on the lexctures delivered by Kumaraswamy Velupillai in memory of Arne Ryde. * Economic Systems Research, volume 15, issue 4, 2003, Paola Antonello * Velupillai's Lund lectures and his book represents a major contribution in the field of economic dynamic analysis. Dynamics is the author's lifelong research programme. * Economic Systems Research, volume 15, issue 4, 2003, Paola Antonello *More details
Series
Language
English
Place of publication
Oxford
United Kingdom
Target group
Professional and scholarly
Illustrations
line figures
Dimensions
Height: 222 mm
Width: 145 mm
Thickness: 16 mm
Weight
436 gr
ISBN-13
978-0-19-829527-3 (9780198295273)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Person
Kumaraswamy Velupillai, University of Trento and Madras School of Economics
Author
Department of Economics and the Centre for Experimental and Computational Economics, University of Trento, Italy, and Senior Professor of Economics at the Madras School of Economics, IndiaDepartment of Economics and the Centre for Experimental and Computational Economics, University of Trento, Italy, and Senior Professor of Economics at the Madras School of Economics, India
Content
1. Introduction and Outline ; 2. Computable Economics: Pioneers and Precursors ; 3. Computable Rationality ; 4. Adaptive Behaviour ; 5. The Modern Theory of Induction ; 6. Learning in a Computable Setting ; 7. Effective Playability in Arithmetical Games ; 8. Notes on Computational Complexity ; 9. Explorations in Computable Economics ; 10. Concluding Reflections ; Appendix: A Child's Guide to Computability