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Is Economics Entering its Post-Witchcraft Era?

Author

Listed:
  • Potgieter, Petrus H.
  • Rosinger, Elemér E.

Abstract

Recently, an awareness is emerging in economics about the fact that important problems are not solvable algorithmically, that is, by any finite number of steps. This statement can be made mathematically exact and this paper reviews the contributions that have been made in this regard, related to standard topics in economics.

Suggested Citation

  • Potgieter, Petrus H. & Rosinger, Elemér E., 2007. "Is Economics Entering its Post-Witchcraft Era?," MPRA Paper 3340, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:3340
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    References listed on IDEAS

    as
    1. H. Reiju Mihara, 1997. "Arrow's Theorem, countably many agents, and more visible invisible dictators," Public Economics 9705001, University Library of Munich, Germany, revised 01 Jun 2004.
    2. Bridges, Douglas S. & Richman, Fred, 1991. "A recursive counterexample to Debreu's theorem on the existence of a utility function," Mathematical Social Sciences, Elsevier, vol. 21(2), pages 179-182, April.
    3. Rassenti, Stephen & Reynolds, Stanley S. & Smith, Vernon L. & Szidarovszky, Ferenc, 2000. "Adaptation and convergence of behavior in repeated experimental Cournot games," Journal of Economic Behavior & Organization, Elsevier, vol. 41(2), pages 117-146, February.
    4. Kam-Chau Wong & Marcel K. Richter, 1999. "Non-computability of competitive equilibrium," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(1), pages 1-27.
    5. Richter, Marcel K. & Wong, Kam-Chau, 1999. "Computable preference and utility," Journal of Mathematical Economics, Elsevier, vol. 32(3), pages 339-354, November.
    6. Mihara, H. Reiju, 1999. "Arrow's theorem, countably many agents, and more visible invisible dictators1," Journal of Mathematical Economics, Elsevier, vol. 32(3), pages 267-287, November.
    Full references (including those not matched with items on IDEAS)

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    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics

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