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Computability, Complexity and Constructivity in Economic Analysis


This cutting-edge collection of essays develops an economic theory based on the mathematics of the digital computer. It proposes a wholly different mathematical foundation for economic theory and applied economics, providing explicit formalizations and applications to traditional issues in economic analysis. Thus, problems of learning, inference, growth, production theory, financial markets, emergent market forms, computational complexity and stochastic complexity are studied with recursion theoretic, constructive and dynamical systems theoretical tools. Moreover, purely theoretical issues of computability, constructivity and universal computation are broached in clear and instructive ways. The collection is ideally suited for graduate courses on economic theory, macroeconomic and microeconomic theory and mathematical economics.

K. Vela Velupillai is John E. Cairnes Professor of Economics at the National University of Ireland, Galway, and holds a ‘Chiara Fama Professorship’ at the University of Trento in Italy. He is also a Senior Visiting Professor at the Madras School of Economics, Chennai, India. His previous books include Computable Economics (2000).

I. Introduction.(K. Vela Velupillai).

II. Computing the Future (N. C. A. da Costa and F. A. Doria).

III. Making Mathematics Effective in Economics (Joseph L. McCauley).

IV. Complexity and Information in Modeling (J. Rissanen).

V. Introduction: Algorithmic and Exchangeable Aspects (John J. McCall).

VI. Constructive and Classical Models for Results in Economics and Game Theory (Kislaya Prasad).

VII. A Primer on the Tools and Concepts of Computable Economics (K. Vela Velupillai).

VIII. Emergence and Universal Computation (Cassey Lee).

IX. Research and Development in Computable Production Functions (Francesco Luna).

X. Computable Knowledge and Undecidability: A Turing Machine Metaphor Applied to Endogenous Growth Models (Stefano Zambelli).

XI. Rights and Decentralized Computatation (Håkan J. Holm).

Author Index.

Subject Index.