Computable Economics: The Arne Ryde Memorial Lectures

Hardcover | April 30, 1999

byK. Velupillai

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In the field of economic analysis, computability in the formation of economic hypotheses is seen as the way forward. In this book, Professor Velupillai implements a theoretical research program along these lines. Choice theory, learning rational expectations equlibria, the persistence ofadaptive behaviour, arithmetical games, aspects of production theory, and economic dynamics are given recursion theoretic (i.e. computable) interpretations. These interpretations lead to new kinds of questions being posed by the economic theorist. In particular, recurison theoretic decision problemsreplace standard optimisation paradigms in economic analysis. Economic theoretic questions, posed recursion-theoretically, lead to answers that are ambiguous: undecidable choices, uncomputable learning processes, and algorithmically unplayable games become standard answers. Professor Velupillaiargues that a recursion theoretic formalisation of economic analysisComputable Economicsmakes the subject intrinsically inductive and computational.

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In the field of economic analysis, computability in the formation of economic hypotheses is seen as the way forward. In this book, Professor Velupillai implements a theoretical research program along these lines. Choice theory, learning rational expectations equlibria, the persistence ofadaptive behaviour, arithmetical games, aspects o...

Kumaraswamy Velupillai, University of Trento and Madras School of Economics

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Format:HardcoverPublished:April 30, 1999Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198295278

ISBN - 13:9780198295273

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Table of Contents

1. Introduction and Outline2. Computable Economics: Pioneers and Precursors3. Computable Rationality4. Adaptive Behaviour5. The Modern Theory of Induction6. Learning in a Computable Setting7. Effective Playability in Arithmetical Games8. Notes on Computational Complexity9. Explorations in Computable Economics10. Concluding ReflectionsAppendix: A Child's Guide to Computability