 Mathematics and Economics, with Special Attention to Social Choice TheoryChapter 63 in Handbook of the Mathematics of the Arts and Sciences, 2021, pp 1613-1636 from Springer Abstract: Abstract The historical context of the usage of mathematics in economics and some other related social sciences is briefly described. This usage is then emphasized in three specific topics: (1) the analysis of a competitive market, regarding in particular the existence of equilibrium and the relations between the concepts of equilibrium and of optimality; (2) in social choice theory, Arrow’s theorem and results about the strategy-proofness of voting procedures; and (3) in game theory, focusing on cooperative games, the relations between the concepts of core and of competitive equilibrium, and an analysis of Shapley-Shubik voting power index in the case of the voting procedure used within the UN Security Council. The use of mathematics in economics has been questioned. Some responses to this questioning are provided. Finally, the thesis of the “indispensability of mathematics” is defended in the case of the social sciences. Keywords: Mathematics; Economics; Social choice; Game theory; General equilibrium; Pareto-optimality; Arrow’s theorem; Strategy-proofness; Voting; Heterodoxy in economics; Indispensability of mathematics (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-57072-3_48 Ordering information: This item can be ordered from DOI: 10.1007/978-3-319-57072-3_48 Access Statistics for this chapter More chapters in Springer Books from Springer |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.