Constructive and Computable Hahn-Banach Theorems for the (Second) Fundamental Theorem of Welfare Economics

K.Vela Velupillai

No 1403, ASSRU Discussion Papers from ASSRU - Algorithmic Social Science Research Unit

Abstract: The Hahn-Banach Theorem plays a crucial role in the second fundamental theorem of welfare economics. To date, all mathematical economics and advanced general equilibrium textbooks concentrate on using nonconstructive or incomputable versions of this celebrated theorem. In this paper we argue for the introduction of constructive or computable Hahn-Banach theorems in mathematical economics and advanced general equilibrium theory. The suggested modification would make applied and policy-oriented economics intrinsically computational.

Keywords: Fundamental Theorems of Welfare Economics; Hahn-Banach Theorem; Constructive Analysis; Computable Analysis (search for similar items in EconPapers)
JEL-codes: C60 C63 C68 D58 D61 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-hpe and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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