Book

Computable Economics

K. Velupillai

Published in print January 2000 | ISBN: 9780198295273
Published online November 2003 | e-ISBN: 9780191596988 | DOI: http://dx.doi.org/10.1093/0198295278.001.0001
Computable Economics

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In a discipline such as economics, increasingly devoted to its computational content, the mathematical underpinnings of the computability assumptions of economic fundamentals have not been investigated systematically or reasonably exhaustively. In this book, such an attempt is made for the first time. Choice theory, adaptively rational behaviour, induction, learning, arithmetical games, computational complexity of decision processes, growth theory, and the theory of economic fluctuations are given recursion theoretic (i.e, computable) interpretations. Economic theoretic questions, posed recursion theoretically, lead to answers that are ambiguous: undecidable choices, uncomputable learning processes, algorithmically unplayable games, etc., become standard answers. The book also claims that a recursion theoretic formalization of economic analysis makes the subject intrinsically inductive and computational.

Keywords: adaptive behaviour; arithmetical games; computability; computational complexity; economic theory; growth theory; induction; learning; recursion theory; undecidability

Book.  236 pages.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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Table of Contents

Introduction and Overview in Computable Economics

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Ideas, Pioneers, and Precursors in Computable Economics

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Computable Rationality in Computable Economics

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Adaptive Behavior in Computable Economics

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The Modern Theory of Induction in Computable Economics

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