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Mathematical economic theory is lacking in logical rigour. Even if the mathematics used in constructing formal economic … theory is rigorous as pure mathematics, economic theory possesses both mathematical and non-mathematical components. But …, distinguished, and integrated. However, the real challenge to formalizing economic theory points not to mathematics but to problems …
Persistent link: https://www.econbiz.de/10009219429
Mathematical economic theory is lacking in logical rigour. Even if the mathematics used in constructing formal economic … theory is rigorous as pure mathematics, economic theory possesses both mathematical and non-mathematical components. But …, distinguished, and integrated. However, the real challenge to formalizing economic theory points not to mathematics but to problems …
Persistent link: https://www.econbiz.de/10009219473
accumulation to the theory of competitive equilibrium over time. Finally I will make some remarks on the relations of this … literature to some recent developments in the theory of economic growth which are often referred to comprehensively as the New … Growth Theory. …
Persistent link: https://www.econbiz.de/10005698152
The present study presents a general scheme of the categories of human activities, integrating mathematics into the …
Persistent link: https://www.econbiz.de/10009140947
Mixture sets were introduced by Herstein and Milnor (1953) into decision theory, where they are still widely used. This …
Persistent link: https://www.econbiz.de/10005478938
Приведены соображения о том, что положения линейной алгебры адекватны отображению баланса стоимостных потоков экономической системы. В зависимости от ее...
Persistent link: https://www.econbiz.de/10011215748
Systemic risk remains a major concern to policymakers since widespread defaults in the corporate and financial sectors could pose substantial costs to society. Forward-looking measures and/or indicators of systemic default risk are thus needed to identify potential buildups of vulnerability in...
Persistent link: https://www.econbiz.de/10005263700
This paper reviews the international business cycle among Group of Seven (G-7) countries since 1973 from two angles. An examination of business cycle synchronization among these countries using simple descriptive statistics shows that synchronized slowdowns have been the norm rather than the...
Persistent link: https://www.econbiz.de/10005264125
In this paper we develop algorithms to solve macro econometric models with forward-looking variables based on Newton method for nonlinear systems of equations. The most difficult step for New-ton methods represents the resolution of a large linear system for each iteration. Thus, we compare the...
Persistent link: https://www.econbiz.de/10008694225
Thermal load calculation based on dynamic models is widely used in simulation software and it is the method recommended by ASHRAE (American Society of Heating, Refrigeration and Air-Conditioning Engineers) and CEN (European Committee for Standardization, in French: Comité Européen de...
Persistent link: https://www.econbiz.de/10010811547