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Computational economics and economic theory: Substitutes or complements?

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  • Judd, Kenneth L.

Abstract

This essay examines the idea and potential of a computational approach to theory,' discusses methodological issues raised by such computational methods, and outlines the problems associated with the dissemination of computational methods and the exposition of computational results. We argue that the study of a theory need not be confined to proving theorems, that current and future computer technologies create new possibilities for theoretical analysis, and that by resolving these issues we can create an intellectual atmosphere in which computational methods will make substantial contributions to economic analysis.
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  • Judd, Kenneth L., 1997. "Computational economics and economic theory: Substitutes or complements?," Journal of Economic Dynamics and Control, Elsevier, vol. 21(6), pages 907-942, June.
  • Handle: RePEc:eee:dyncon:v:21:y:1997:i:6:p:907-942
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    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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