Iteration, Automatic Computers, and Economic Dynamics

R. M. Goodwin

Chapter 7 in Essays in Economic Dynamics, 1982, pp 99-107 from Palgrave Macmillan

Abstract: Abstract In the continuing effort to erect a useful dynamics, we need all possible helpful sources of hypotheses. One such is the traditional mathematical device of solving equations by trial and error and its vigorous modern stepchild, the automatic computing machine or zeroing servo, i.e. a mechanism which keeps trying solutions until the resulting error is reduced to zero.

Keywords: Economic Dynamics; Automatic Computer; Effective Demand; Perfect Competition; Supply Price (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-05504-3_7

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