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Computable Economics: The Arne Ryde Memorial Lectures

Author

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  • Velupillai, K.

Abstract

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.

Suggested Citation

  • Velupillai, K., 2000. "Computable Economics: The Arne Ryde Memorial Lectures," OUP Catalogue, Oxford University Press, number 9780198295273.
  • Handle: RePEc:oxp:obooks:9780198295273
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    Citations

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    Cited by:

    1. Massimo Egidi, 2017. "Schumpeter’s picture of economic and political institutions in the light of a cognitive approach to human behavior," Journal of Evolutionary Economics, Springer, vol. 27(1), pages 139-159, January.
    2. Troy Tassier, 2013. "Handbook of Research on Complexity, by J. Barkley Rosser, Jr. and Edward Elgar," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 39(1), pages 132-133.
    3. Edward W. Piotrowski & Jan Sladkowski, "undated". "The Next Stage: Quantum Game Theory," Departmental Working Papers 18, University of Bialtystok, Department of Theoretical Physics.
    4. K. Velupillai, 2015. "de Finetti’s theory of probability and its Jaynesian critique," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 32(1), pages 85-95, April.
    5. Sheri M. Markose, 2005. "Computability and Evolutionary Complexity: Markets as Complex Adaptive Systems (CAS)," Economic Journal, Royal Economic Society, vol. 115(504), pages 159-192, 06.
    6. Holm, Hakan J., 2007. "Markets are more than Bits," Journal of Economic Behavior & Organization, Elsevier, vol. 63(2), pages 256-261, June.
    7. K. Vela Velupillai & Stefano Zambelli, 2012. "Computability and Algorithmic Complexity in Economics," ASSRU Discussion Papers 1202, ASSRU - Algorithmic Social Science Research Unit.
    8. Shu-Heng Chan & Shu G. Wang, 2010. "Emergent Complexity in Agent-Based Computational Economics," ASSRU Discussion Papers 1017, ASSRU - Algorithmic Social Science Research Unit.
    9. Guglielmo Chiodi, 2012. "On Richard Goodwin’s Elementary Economics from the Higher Standpoint," ASSRU Discussion Papers 1219, ASSRU - Algorithmic Social Science Research Unit.
    10. Prasad, Kislaya, 2009. "The rationality/computability trade-off in finite games," Journal of Economic Behavior & Organization, Elsevier, vol. 69(1), pages 17-26, January.
    11. Papadimitriou, Christos, 2015. "The Complexity of Computing Equilibria," Handbook of Game Theory with Economic Applications, Elsevier.
    12. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 873-892, November.
    13. K.Vela Velupillai, 2014. "de Finetti's Theory of Probability and its Jaynesian Critique," ASSRU Discussion Papers 1406, ASSRU - Algorithmic Social Science Research Unit.
    14. J. Barkley Rosser Jr & Richard P.F. Holt & David Colander, 2010. "European Economics at a Crossroads," Books, Edward Elgar Publishing, number 13585, December.
    15. repec:wsi:nmncxx:v:08:y:2012:i:01:n:s1793005712400066 is not listed on IDEAS
    16. Barbara Dluhosch, 2011. "European Economics at a Crossroads, by J. Barkley Rosser, Jr., Richard P. F. Holt, and David Colander," Journal of Regional Science, Wiley Blackwell, vol. 51(3), pages 629-631, August.
    17. Shu‐Heng Chen & Shu G. Wang, 2011. "Emergent Complexity In Agent‐Based Computational Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 25(3), pages 527-546, July.
    18. Edward W. Piotrowski & Jan Sladkowski, "undated". "Trading by Quantum Rules - Quantum Anthropic Principle," Departmental Working Papers 9, University of Bialtystok, Department of Theoretical Physics.
    19. K. Vela Velupillai & Stefano Zambelli, 2011. "Computing in Economics," Chapters,in: The Elgar Companion to Recent Economic Methodology, chapter 12 Edward Elgar Publishing.
    20. Francesco Luna, "undated". "Computable Learning, Neural Networks and Institutions," Computing in Economics and Finance 1996 _037, Society for Computational Economics.
    21. Edward W. Piotrowski & Jan Sladkowski, "undated". "Quantum Game Theory in Finance," Departmental Working Papers 19, University of Bialtystok, Department of Theoretical Physics.
    22. Antonio Doria, Francisco, 2011. "J.B. Rosser Jr. , Handbook of Research on Complexity, Edward Elgar, Cheltenham, UK--Northampton, MA, USA (2009) 436 + viii pp., index, ISBN 978 1 84542 089 5 (cased)," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1-2), pages 196-204, April.

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