Can economic systems be seen as computing devices?

R.S. Bartholo, C.A.N. Cosenza, F.A. Doria and C.T.R. de Lessa

Journal of Economic Behavior & Organization, 2009, vol. 70, issue 1-2, 72-80

Abstract: We briefly discuss ideas about computable economics, and comment on the contributions of A.A. Lewis and K.V. Velupillai. We then sketch the mathematical background for the Tsuji et al. (Tsuji, M., da Costa, N.C.A., Doria, F.A., 1998. The incompleteness of theories of games. Journal of Philosophical Logic 27, 553-564) result on the undecidability and incompleteness of game theory and of the theory of competitive markets, using that result in the concluding sections of the paper to examine the (possible) empirical interpretation of economic and social systems as computing devices.

Keywords: Market; equilibrium; Nash; game; Undecidability; Incompleteness; Goedel; Axiomatics; for; economics (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:70:y:2009:i:1-2:p:72-80

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