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Can economic systems be seen as computing devices?

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  • Bartholo, R.S.
  • Cosenza, C.A.N.
  • Doria, F.A.
  • de Lessa, C.T.R.
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    Abstract

    We briefly discuss ideas about computable economics, and comment on the contributions of A.A. Lewis and K.V. Velupillai. We then sketch the mathematical background for the Tsuji et al. (Tsuji, M., da Costa, N.C.A., Doria, F.A., 1998. The incompleteness of theories of games. Journal of Philosophical Logic 27, 553-564) result on the undecidability and incompleteness of game theory and of the theory of competitive markets, using that result in the concluding sections of the paper to examine the (possible) empirical interpretation of economic and social systems as computing devices.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

    Volume (Year): 70 (2009)
    Issue (Month): 1-2 (May)
    Pages: 72-80

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    Handle: RePEc:eee:jeborg:v:70:y:2009:i:1-2:p:72-80

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    Web page: http://www.elsevier.com/locate/jebo

    Related research

    Keywords: Market equilibrium Nash game Undecidability Incompleteness Goedel Axiomatics for economics;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Kumaraswamy Velupillai, . "The Computable Approach to Economics," Working Papers _005, University of California at Los Angeles, Center for Computable Economics.
    2. K. Vela Velupillai, 2004. "The unreasonable ineffectiveness of mathematics in economics," Department of Economics Working Papers 0406, Department of Economics, University of Trento, Italia.
    3. Prasad, Kislaya, 1991. "Computability and randomness of Nash equilibrium in infinite games," Journal of Mathematical Economics, Elsevier, vol. 20(5), pages 429-442.
    4. Kislaya Prasad, 2004. "Constructive and Classical Models for Results in Economics and Game Theory," Metroeconomica, Wiley Blackwell, Wiley Blackwell, vol. 55(2-3), pages 141-154, 05.
    5. Stefano Zambelli, 2004. "Production of Ideas by Means of Ideas: A Turing Machine Metaphor," Metroeconomica, Wiley Blackwell, Wiley Blackwell, vol. 55(2-3), pages 155-179, 05.
    6. Koppl, Roger, 2008. "Thinking impossible things: A review essay," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 66(3-4), pages 837-847, June.
    7. K. Vela Velupillai, 2007. "Variations on the Theme of Conning in Mathematical Economics," Department of Economics Working Papers 0703, Department of Economics, University of Trento, Italia.
    8. Lewis, Alain A., 1992. "On turing degrees of Walrasian models and a general impossibility result in the theory of decision-making," Mathematical Social Sciences, Elsevier, Elsevier, vol. 24(2-3), pages 141-171, November.
    9. Lewis, Alain A., 1992. "Some aspects of effectively constructive mathematics that are relevant to the foundations of neoclassical mathematical economics and theory of games," Mathematical Social Sciences, Elsevier, Elsevier, vol. 24(2-3), pages 209-235, November.
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    Cited by:
    1. R. S. Bartholo & C. A. Cosenza & F. A. Doria & M. Doria & A. Teixeira, 2011. "On Exact and Approximate Solutions for Hard Problems: An Alternative Look," ASSRU Discussion Papers, ASSRU - Algorithmic Social Science Research Unit 1103, ASSRU - Algorithmic Social Science Research Unit.
    2. Koppl, Roger, 2010. "Some epistemological implications of economic complexity," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 76(3), pages 859-872, December.

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