Affine and Linear Functions and Transformations (Matrices), Linear Economic Models, Systems of Linear Equations and Inequalities

Wolfgang Eichhorn and Winfried Gleißner
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Wolfgang Eichhorn: Karlsruhe Institute of Technology (KIT)
Winfried Gleißner: University of Applied Sciences Landshut

Chapter 4 in Mathematics and Methodology for Economics, 2016, pp 105-176 from Springer

Abstract: Abstract In this chapter we discuss the notions of proportionality, linear and affine functions, and homogeneity. The matrix algebra is introduced to explain some linear, economic models (Leontieff, von Neumann). We discuss systems of linear equations and their solution in full detail. For this we need determinants, Cramer’s rule, and the inverse matrix. Further we discuss the Gauss algorithm. We finish introducing functions of vector variables to explain aggregation in economics.

Keywords: General Solution; Column Vector; Final Demand; Affine Function; Weighted Arithmetic (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-319-23353-6_4

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DOI: 10.1007/978-3-319-23353-6_4

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