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This paper is the first attempt at quantitative and qualitative analysis of the Soviet literature on general equilibrium theory in 1960—1990s. We divide the papers into four subgroups: von Neumann—Gale class of models and equilibrium growth; Arrow—Debreu class of models; disequilibrium...
Persistent link: https://www.econbiz.de/10011007739
The emergence of non-constructivities in economics is entirely due to the unnecessary and inappropriate formalization of economics by means of 'classical' mathematics. I have made similar claims for the emergence of uncomputabilities and undecidabilities in economics in earlier writings. Here,...
Persistent link: https://www.econbiz.de/10009650766
In this paper we address the story of developments in general equilibrium theory (GET) in the USSR during the 1970s through the lens of a single biography. The Soviet advances in mathematical economics, only fragmentarily known in the West, give an occasion to reflect on the extension of the...
Persistent link: https://www.econbiz.de/10010720478
A brief survey of the publications in mathematical economics, dealing with utility theory, probabilistic microeconomic models, and equilibrium under price rigidities, is given.
Persistent link: https://www.econbiz.de/10008529300
I study connected manifolds and prove that a proper map f: M - M is globally invertible when it has a nonvanishing Jacobian and the fundamental group pi (M) is finite. This includes finite and infinite dimensional manifolds. Reciprocally, if pi (M) is infinite, there exist locally invertible...
Persistent link: https://www.econbiz.de/10005619308
Mathematical economics is compared and contrasted with mathematical engineering. Engineers use mathematics where it is practical and cost-effective, sometimes cutting corners, and leaving theorems and derivations to professional mathematicians. In contrast, papers by mathematical economists are...
Persistent link: https://www.econbiz.de/10008484315
Although Cournot's mathematical economics was generally neglected until the mid- 1870s, he was taken up and carefully studied by the Scientific Club of Cambridge, Massachusetts even before his "discovery" by Walras and Jevons. The episode is reconstructed from fragmentary manuscripts of the...
Persistent link: https://www.econbiz.de/10011707594
Persistent link: https://www.econbiz.de/10015061720
The objective of this paper is to propose an analytical framework to examine the foundations of the theory of efficient growth. The theory of efficient growth is a newly developed theory based on the principles of the neoclassical framework. It argues that an economy grows efficiently under two...
Persistent link: https://www.econbiz.de/10014304803
In the 1870s and 1880s, the scientist, logician, and pragmatist philosopher Charles S. Peirce possessed an advanced knowledge of mathematical economics, having mastered and criticized Cournot as early as 1871. In 1884 he engaged in a multi-round debate with the editors of The Nation over the...
Persistent link: https://www.econbiz.de/10011761427