Seven Kinds of Computable and Constructive Infelicities in Economics

K. Vela Velupillai ()
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K. Vela Velupillai: Tottvägen 11 (1 tr), 16954 Solna, Sweden

New Mathematics and Natural Computation (NMNC), 2016, vol. 12, issue 03, 219-239

Abstract: At least seven kinds of misconceptions about constructive and computable mathematics prevail in economics. In this paper, the infelicitous claims of computable or constructive frameworks for the excess demand functions of microeconomics, constructive general equilibrium theory and computable general equilibrium modeling, agent-based economics, search theory, game theory, index number theory and Neo Ricardian economics and the fundamental theorems of welfare economics are considered. The claims are shown to be misleading from the point of view of formal computability theory or constructive mathematics (especially but not only when based on Brouwerian Intuitionistic Logic).

Keywords: Constructive general equilibrium theory; agent-based economics; index number theory; fundamental theorems of welfare economics; excess demand functions; search theory; game theory; computability; constructive analysis (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1142/S1793005716500150

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