Taming the Incomputable, Reconstructing the Nonconstructive and Deciding the Undecidable in Mathematical Economics
It is natural to claim, as I do in this paper, that the emergence of non-constructivities in economics is entirely due to the formalizations of economics by means of 'classical' mathematics. I have made similar claims for the emergence of uncomputabilities and undecidabilities in economics in earlier writings. Here, on the other hand, I want to suggest a way of confronting uncomputabilities, and remedying non-constructivities, in economics, and turning them into a positive force for modelling, for example, endogenous growth, as suggested by Stefano Zambelli (, ). In between, a case is made for economics to take seriously the kind of mathematical modelling fostered by Feynman and Dirac, in particular the way they developed the path integral and the ?- function, respectively. A sketch of a 'research program' in mathematical economics, analogous to the way Gödel thought incompleteness and its perplexities should be interpreted and resolved, is also outlined in the concluding section.
|Date of creation:||2007|
|Date of revision:||2007|
|Contact details of provider:|| Postal: St. Anthony's College, Newcastle Road, Galway|
Phone: +353-91 524411 ext. 2501
Fax: +353-91 524130
Web page: http://economics.nuigalway.ie
More information through EDIRC
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.:
- Herbert E. Scarf, 1977.
"The Computation of Equilibrium Prices: An Exposition,"
Cowles Foundation Discussion Papers
473, Cowles Foundation for Research in Economics, Yale University.
- Scarf, Herbert E., 1993. "The computation of equilibrium prices: An exposition," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 4, volume 2, chapter 21, pages 1007-1061 Elsevier.
- Shoven,John B. & Whalley,John, 1992.
"Applying General Equilibrium,"
Cambridge University Press, number 9780521319867, November.
- Arrow, Kenneth J, 1986. "Rationality of Self and Others in an Economic System," The Journal of Business, University of Chicago Press, vol. 59(4), pages S385-99, October.
- Lars Ljungqvist & Thomas J. Sargent, 2004. "Recursive Macroeconomic Theory, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 026212274x, December.
When requesting a correction, please mention this item's handle: RePEc:nig:wpaper:0128. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Srinivas Raghavendra)
If references are entirely missing, you can add them using this form.