The mathematization of economics is almost exclusively in terms of the mathematics of real analysis which, in turn, is founded on set theory (and the axiom of choice) and orthodox mathematical logic. In this paper I try to point out that this kind of mathematization is replete with economic infelicities. The attempt to extract these infelicities is in terms of three main exaamples and one general discussion: dynamics, policy and rational expectations and learning are the examples; a game theory without ‘subjectivism’, based on the axiom of determinateness, is discussed in general terms. The focus in on the role and reliance of standard fixed-point theorems in orthodox mathematical economics.
Variations on the Theme of Conning in Mathematical Economics / Velupillai, Kumaraswamy. - In: JOURNAL OF ECONOMIC SURVEYS. - ISSN 0950-0804. - STAMPA. - 2007/v.21:3(2007), pp. 466-505.
Variations on the Theme of Conning in Mathematical Economics
Velupillai, Kumaraswamy
2007-01-01
Abstract
The mathematization of economics is almost exclusively in terms of the mathematics of real analysis which, in turn, is founded on set theory (and the axiom of choice) and orthodox mathematical logic. In this paper I try to point out that this kind of mathematization is replete with economic infelicities. The attempt to extract these infelicities is in terms of three main exaamples and one general discussion: dynamics, policy and rational expectations and learning are the examples; a game theory without ‘subjectivism’, based on the axiom of determinateness, is discussed in general terms. The focus in on the role and reliance of standard fixed-point theorems in orthodox mathematical economics.File | Dimensione | Formato | |
---|---|---|---|
Joes_511.pdf
Solo gestori archivio
Tipologia:
Post-print referato (Refereed author’s manuscript)
Licenza:
Tutti i diritti riservati (All rights reserved)
Dimensione
218.34 kB
Formato
Adobe PDF
|
218.34 kB | Adobe PDF | Visualizza/Apri |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione