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Economic Dynamics and Computation—Resurrecting the Icarus Tradition
Author(s) -
Velupillai K. Vela
Publication year - 2004
Publication title -
metroeconomica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.256
H-Index - 29
eISSN - 1467-999X
pISSN - 0026-1386
DOI - 10.1111/j.0026-1386.2004.00192.x
Subject(s) - recursion (computer science) , computation , interface (matter) , computer science , mathematical economics , economics , neoclassical economics , algorithm , bubble , maximum bubble pressure method , parallel computing
Computation over the reals, without abandoning the paradigm of the digital computer, raises difficult issues at the interface between recursion theory, numerical analysis and dynamical systems. In this paper an attempt is made to provide economic and mathematical justifications for returning to the analogue computing traditions that were once felicitously practised in economics.