Mathematical Models in Economics
نویسنده
چکیده
The chapter provides a concise discussion of the role of mathematics in economic theory. After a brief overview of the main applications of the mathematical methods to economic problems, the chapter focuses on general equilibrium theory in its atemporal and intertemporal versions and discusses the concepts of equilibrium and dynamics in natural sciences and economics. In this context, business cycles models of Keynesian inspiration and neoclassical models of equilibrium dynamics are outlined and compared. Special consideration is also given to overlapping-generations models and the questions of implicit dynamics and learning.
منابع مشابه
Identifiability of Dynamic Stochastic General Equilibrium Models with Covariance Restrictions
This article is concerned with identification problem of parameters of Dynamic Stochastic General Equilibrium Models with emphasis on structural constraints, so that the number of observable variables is equal to the number of exogenous variables. We derived a set of identifiability conditions and suggested a procedure for a thorough analysis of identification at each point in the parameters sp...
متن کاملTowards Supply Chain Planning Integration: Uncertainty Analysis Using Fuzzy Mathematical Programming Approach in a Plastic Forming Company
Affected by globalization and increased complexity, supply chain managers have learned about the importance of Sales and Operations Planning (S&OP). However, in large scale supply chains, S&OP has received little attention, by both academics and practitioners. The purpose of this manuscript is to investigate the advantages of S&OP process using a mathematical modeling approach in a large scale ...
متن کاملThe Origin and Limitations of Modern Mathematical Economics: A Historical Approach
We have first demonstrated that Debreu’s view regarding the publication of The Theory of Games and Economic Behavior by von Neumann and Morgenstern in 1944 as the birth of modern mathematical economics is not convincing. In this paper, we have proposed the hypothesis that the coordinated research programs in the 1930’s, initiated by the Econometric Society and the Cowles Commission for Research...
متن کاملEvaluating the Performance of Forecasting Models for Portfolio Allocation Purposes with Generalized GRACH Method
Portfolio theory assumes that investors accept risk. This means thatin the equal rate of return on the two assets, the assets were chosenthat have a lower risk level. Modern portfolio theory is accepted byinvestors who believe that they are not cope with the market. Sothey keep many different types of securities in order to access theoptimum efficiency rate that is close to the rate of return o...
متن کاملMethodological Shortcomings in Classical Mathematical Economics: A Critical Examination of the Contributions of Cournot, Jevons and Walras
This paper examines critically the contributions of Cournot, Jevons and Walras as the founders of classical mathematical economics from a methodological standpoint. Advances in different economic schools and doctrines in the 19th century produced an environment of multi-dimensionality in economic analysis which was regarded by the pioneers of classical mathematical economists as a chaotic state...
متن کاملNew Realities of the Enterprise Management System Information Support: Economic and Mathematical Models and Cloud Technologies
The paper focuses on the urgency of the implementation of cloud technologies, which are a necessary condition for the development of enterprise management systems, give rise to a complex of insufficiently studied phenomena and processes and determine the need to find new tools in making and implementing reasonable management decisions. In the process of research, the sequence of construction an...
متن کامل