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A logical critique of mathematical formalism in economics
Dennis, Ken - In: Journal of Economic Methodology 3 (1996) 1, pp. 151-169
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
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A logical critique of mathematical formalism in economics
Dennis, Ken - In: Journal of Economic Methodology 2 (1995) 2, pp. 181-200
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
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Turnpikes.
McKenzie, L.W. - University of Rochester - Center for Economic Research … - 1998
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
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Cunoaştere matematică şi comprehensiune economică
Emil, Dinga - In: Revista OEconomica (2010) 03
The present study presents a general scheme of the categories of human activities, integrating mathematics into the …
Persistent link: https://www.econbiz.de/10009140947
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A Note on Mixture Sets in Decision Theory.
Mongin, P. - Center for Operations Research and Econometrics (CORE), … - 1996
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
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A design and a code invariant under the simple group Co3
Haemers, W.H.; Parker, C.; Pless, V.; Tonchev, V.D. - Tilburg University, School of Economics and Management - 1990
Persistent link: https://www.econbiz.de/10011087038
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An example of a stochastic equilibrium with incomplete markets
Žitković, Gordan - In: Finance and Stochastics 16 (2012) 2, pp. 177-206
Persistent link: https://www.econbiz.de/10010997039
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On a new interpretation of the sample variance
Mukhopadhyay, Nitis; Chattopadhyay, Bhargab - In: Statistical Papers 54 (2013) 3, pp. 827-837
than what is known in the statistical literature including economics, actuarial mathematics, and mathematical finance …
Persistent link: https://www.econbiz.de/10010998620
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Wealth-Path Dependent Utility Maximization in Incomplete Markets
Bouchard, Bruno; Pham, Huyen - Université Paris-Dauphine (Paris IX) - 2004
Motivated by an optimal investment problem under time horizon uncertainty and when default may occur, we study a general structure for an incomplete semimartingale model extending the classical terminal wealth utility maximization problem. This modelling leads to the formulation of a wealth-path...
Persistent link: https://www.econbiz.de/10010861633
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Dynamic copula models for the spark spread
Benth, Fred Espen; Kettler, Paul - In: Quantitative Finance 11 (2010) 3, pp. 407-421
We propose a non-symmetric copula to model the evolution of electricity and gas prices by a bivariate non-Gaussian autoregressive process. We identify the marginal dynamics as driven by normal inverse Gaussian processes, estimating them from a series of observed UK electricity and gas spot data....
Persistent link: https://www.econbiz.de/10009215076