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Computable EconomicsThe Arne Ryde Memorial Lectures$
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K. Velupillai

Print publication date: 2000

Print ISBN-13: 9780198295273

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198295278.001.0001

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Explorations in Computable Economics

Explorations in Computable Economics

(p.146) 9 Explorations in Computable Economics
Computable Economics

Kumaraswamy Velupillai

Oxford University Press

Three topics are discussed as pointers towards issues at the frontiers of computable economics: effectivizing the fundamental theorems of welfare economics; computable production theory; the effectivity of tâtonnement. Furthermore, in the appendix, an attempt is made to analyse the notion of finding a formally simplest theory of economic fluctuations. Some discursive notes on multiple equilibria in economic models and their possible generation due to various formal uncomputabilities is also presented.

Keywords:   effective decentralization, effective tâtonnement, fluctuations, minimum description length, multiple equilibria, production functions, universal Turing machine, welfare economics

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