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The Epistemology of Simulation, Computation and Dynamics in Economics Ennobling Synergies, Enfeebling 'Perfection'

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  • K. Vela Velupillai
  • Stefano Zambelli

Abstract

Lehtinen and Kuorikoski ([73]) question, provocatively, whether, in the context of Computing the Perfect Model, economists avoid - even positively abhor - reliance on simulation. We disagree with the mildly qualified affirmative answer given by them, whilst agreeing with some of the issues they raise. However there are many economic theoretic, mathematical (primarily recursion theoretic and constructive) - and even some philosophical and epistemological - infelicities in their descriptions, definitions and analysis. These are pointed out, and corrected; for, if not, the issues they raise may be submerged and subverted by emphasis just on the unfortunate, but essential, errors and misrepresentations

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Bibliographic Info

Paper provided by ASSRU - Algorithmic Social Science Research Unit in its series ASSRU Discussion Papers with number 1002.

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Date of creation: 2010
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Handle: RePEc:trn:utwpas:1002

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Keywords: Simulation; Computation; Computable; Analysis; Dynamics; Proof; Algorithm;

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  1. Shoven,John B. & Whalley,John, 1992. "Applying General Equilibrium," Cambridge Books, Cambridge University Press, number 9780521319867, October.
  2. Stefano Zambelli, 2004. "Production of Ideas by Means of Ideas: A Turing Machine Metaphor," Metroeconomica, Wiley Blackwell, vol. 55(2-3), pages 155-179, 05.
  3. Thaler, Richard, 1980. "Toward a positive theory of consumer choice," Journal of Economic Behavior & Organization, Elsevier, vol. 1(1), pages 39-60, March.
  4. Stefano Zambelli, 2007. "A Rocking Horse That Never Rocked: Frisch's “Propagation Problems and Impulse Problems”," History of Political Economy, Duke University Press, vol. 39(1), pages 145-166, Spring.
  5. Stefano Zambelli, 2011. "Flexible Accelerator Economic Systems As Coupled Oscillators," Journal of Economic Surveys, Wiley Blackwell, vol. 25(3), pages 608-633, 07.
  6. Scarf,Herbert E. & Shoven,John B., 2008. "Applied General Equilibrium Analysis," Cambridge Books, Cambridge University Press, number 9780521070935, October.
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