Overview

In the field of economic analysis, computability in the formation of economic hypotheses is seen as the way forward. In this book, Professor Velupillai implements a theoretical research program along these lines. Choice theory, learning rational expectations equlibria, the persistence of adaptive behaviour, arithmetical games, aspects of production theory, and economic dynamics are given recursion theoretic (i.e. computable) interpretations. These interpretations lead to new kinds of questions being posed by the economic theorist. In particular, recurison theoretic decision problems replace standard optimisation paradigms in economic analysis. Economic theoretic questions, posed recursion-theoretically, lead to answers that are ambiguous: undecidable choices, uncomputable learning processes, and algorithmically unplayable games become standard answers. Professor Velupillai argues that a recursion theoretic formalisation of economic analysisComputable Economicsmakes the subject intrinsically inductive and computational.

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9780198295273

Table of Contents

Reviews

... rich in ideas and problems and may inspire research work of specialists in mathematical economics. Zentralblatt MATH This fascinating book is based on the lexctures delivered by Kumaraswamy Velupillai in memory of Arne Ryde. Economic Systems Research, volume 15, issue 4, 2003, Paola Antonello Velupillai's Lund lectures and his book represents a major contribution in the field of economic dynamic analysis. Dynamics is the author's lifelong research programme. Economic Systems Research, volume 15, issue 4, 2003, Paola Antonello

... rich in ideas and problems and may inspire research work of specialists in mathematical economics. Zentralblatt MATH This fascinating book is based on the lexctures delivered by Kumaraswamy Velupillai in memory of Arne Ryde. Economic Systems Research, volume 15, issue 4, 2003, Paola Antonello Velupillai's Lund lectures and his book represents a major contribution in the field of economic dynamic analysis. Dynamics is the author's lifelong research programme. Economic Systems Research, volume 15, issue 4, 2003, Paola Antonello

Author Information

Kumaraswamy Velupillai, University of Trento and Madras School of Economics

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