New Quantitative Techniques for Economic Analysis
- 1st Edition - February 28, 1982
- Imprint: Academic Press
- Editor: Giorgio P. Szegö
- Language: English
- Paperback ISBN:9 7 8 - 1 - 4 8 3 2 - 4 7 2 4 - 3
- eBook ISBN:9 7 8 - 1 - 4 8 3 2 - 7 3 4 6 - 4
Economic Theory, Econometrics, and Mathematical Economics: New Quantitative Techniques for Economic Analysis provides a critical appraisal of the results, the limits, and the… Read more
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Request a sales quoteEconomic Theory, Econometrics, and Mathematical Economics: New Quantitative Techniques for Economic Analysis provides a critical appraisal of the results, the limits, and the developments of well-established quantitative techniques. This book presents a detailed analysis of the quantitative techniques for economic analysis. Organized into four parts encompassing 16 chapters, this book begins with an overview of the general questions concerning models and model making. This text then provides the main results and various interesting economic applications of some quantitative techniques that have not been widely used in the economic field. Other chapters consider the principle of optimality in dynamic programing wherein the infinite sequence of consumption-saving decisions can be reduced to one decision. This book discusses as well the methods for online control and management of large-scale systems. The final chapter deals with special problems. This book is a valuable resource for economists, social scientists, epistemologists, economic historians, and research workers.
List of Contributors
Preface
Part I Models and Reality
Mathematical Methods for Economic Analysis: A Biased Review
1. Historical Background
2. Chaos and Order
3. A Reappraisal of Established Techniques
4. Conclusions
References
Dynamic Econometric Models: A System-Theoretic Critique
1. Background
2. Definition of "Model" in System Theory
3. Some Properties of Models
4. Results of Realization Theory
5. Conclusions concerning Stage (1)
6. Stage (2): Parametrization
7. Conclusion
References
Economics: Past and Future
1. Introduction: The Case of Economics
2. The Positivist Approach to Economics
3. The Neopositivist Approach to Economics
4. Economics Between Ideology and Praxeology
5. Physical Systems and the Economic System
6. The Cognitive Process by Which the Economic System Is Envisaged
7. The Ideological Prejudices (Fallacies) of the Neoclassical Definition of the Economic System
8. How Can We Assess Preanalytic Knowledge?
9. Some Fundamental Properties of the Economic and the Social Systems
10. Connections Between the Social and Economic Systems
11. Equilibrium Model and Economic Theory
12. The Normal Structure and the Law of Motion of the Economy
13. Efficiency and Equilibrium
14. Aggregation in Economic Models
15. Normative Models in Economics
16. Individual and Social Choices
17. Theory and Observation
18. Diachronic Stability and Historical Stability
19. Catastrophe Theory and Structural Changes in the Economic System
20. The Role of Expectations and Some Possible Discontinuities in the Economic Process
21. Quantitative Changes and Evolution
22. Knowledge and Behavior
References
Part II New Quantitative Techniques at Work
Ergodicity for Economists
1. Introduction
2. A Two-Dimensional Mapping Model Exhibiting Chaotic Behavior
3. Integrable Systems
4. The Transition from Integrable to Chaotic Behavior in Conservative Systems
5. Ergodic and Mixing Systems and C Systems
6. K Systems and B Systems
7. Statistical Description of Chaotic Systems
8. Closing Remarks
References
Catastrophe Theory in Banking and Finance
1. Introduction
2. Catastrophe Theory
3. Catastrophic Bank Failure
4. Conclusions and Summary
References
Order by Fluctuation and the Urban System
1. Introduction
2. Interurban Dynamics
3. Conclusion
References
The Qualitative Analysis of Nonlinear Dynamic Economic Systems by Structural Methods
1. Introduction
2. Aspects of Systems Structure
3. The Nature of Nonlinear Oscillatory Behavior
4. Economic Models
References
Part III A Reappraisal of Established Methods
Optimal Consumption Plans—A Dynamic Programming Approach
1. Consumption Planning under Certainty
2. Section 2
3. Section 3
4. Section 4
5. Section 5
6. Section 6
7. Section 7
8. Section 8
9. Risk
10. Section 10
11. Section 11
References
Generalized Separation Property for Dynamic Portfolio Models
1. Introduction
2. Revised Merton Model
3. A Complete Separation Theorem for Alternative Risks
Appendix. A Brief Outline of Stochastic Control
References
Hierarchical Control and Coordination in Dynamical Systems
1. Introduction
2. Hierarchical Optimization by Price Coordination
3. Price Coordination and Optimization of Complex Systems with Inventory Couplings
4. Two-Level Control Structure with Price Coordination for Systems with Inventory Couplings
References
Discontinuous Solutions in n-Person Games
1. Introduction
2. Weighted Majority Games
3. The Case of Three-Person Games
4. Constant-Power Sets
5. Share Trading
6. The Generating Algorithm
7. Further Outstanding Problems
8. Conclusions
References
Part IV Special Problems
Elementary Properties of Nonnegative Matrices
References
Optimal Control of Econometric Models: Some Experimental Results for the Italian Monetary Sector
1. Introduction
2. The Computational Scheme
3. Experimental Results
Appendix
References
Stability and Instability in a Two-Dimensional Dynamical System: A Mathematical Approach to Kaldor's Theory of the Trade Cycle
1. Section 1
2. Section 2
3. Section 3
4. Section 4
5. Summary
References
Competitive Equilibrium and Indivisible Commodities
1. Introduction
2. The Problem of the Existence of a Competitive Equilibrium in an Economy with Unique (or Indivisible) Commodities
3. Competitive Pseudoequilibrium in an Economy with Unique (or Indivisible) Commodities
References
New Results for a Competitive Equilibrium
References
- Edition: 1
- Published: February 28, 1982
- No. of pages (eBook): 336
- Imprint: Academic Press
- Language: English
- Paperback ISBN: 9781483247243
- eBook ISBN: 9781483273464
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