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Computation in Economics

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  • K. Vela Velupillai
  • Stefano Zambelli

Abstract

This is an attempt at a succinct survey, from methodological and epistemological perspectives, of the burgeoning, apparently unstructured, field of what is often – misleadingly – referred to as computational economics. We identify and characterise four frontier research fields, encompassing both micro and macro aspects of economic theory, where machine computation play crucial roles in formal modelling exercises: algorithmic behavioural economics, computable general equilibrium theory, agent based computational economics and computable economics. In some senses these four research frontiers raise, without resolving, many interesting methodological and epistemological issues in economic theorising in (alternative) mathematical modes

Suggested Citation

  • K. Vela Velupillai & Stefano Zambelli, 2010. "Computation in Economics," ASSRU Discussion Papers 1001, ASSRU - Algorithmic Social Science Research Unit.
    • Handle: RePEc:trn:utwpas:1001
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    Cited by:

    1. K. Vela Velupillai, 2012. "Iteration, Tâtonnement, Computation and Economic Dynamics," ASSRU Discussion Papers 1213, ASSRU - Algorithmic Social Science Research Unit.
    2. K. Vela Velupillai, 2004. "A primer on the tools and concept of computable economics," Department of Economics Working Papers 0405, Department of Economics, University of Trento, Italia.
    3. K.Vela Velupillai, 2012. "Towards a Political Economy of the Theory of Economic Policy," ASSRU Discussion Papers 1217, ASSRU - Algorithmic Social Science Research Unit.
    4. Taylor, Lance, 2016. "CGE applications in development economics," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 495-514.
    5. K. Vela Velupillai, 2012. "The Chimera of a Complete Analysis of Economic Dynamics," ASSRU Discussion Papers 1207, ASSRU - Algorithmic Social Science Research Unit.

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    Keywords

    Classical Behavioural Economics; Computable General Equilibrium theory; Agent Based Economics; Computable Economics; Computability; Constructivity; Numerical Analysis;
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