Chapter

Von Neumann's Economic Model

S. N. Afriat

in Logic of Choice and Economic Theory

Published in print November 1987 | ISBN: 9780198284611
Published online November 2003 | e-ISBN: 9780191595844 | DOI: http://dx.doi.org/10.1093/0198284616.003.0023
 Von Neumann's Economic Model

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This is the last of six chapters on the logic of price, and expands on the features of von Neumann's economic model, or activity system, which was first mentioned in Chapter IV.1. The fourteen sections of the chapter are: activity system; dual system; irreducibility; admissible factors; factor bounds; limit reciprocity; von Neumann factor; stretch algorithm; matrix games; LP solution; Perron–Frobenius and von Neumann; BASIC program; problems; and demonstrations.

Keywords: economic models; economic theory; mathematical economics; Perron–Frobenius theorem; price; von Neumann's activity system; von Neumann's model

Chapter.  11005 words. 

Subjects: Microeconomics

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