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Can economic systems be seen as computing devices?

Author

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  • Bartholo, R.S.
  • Cosenza, C.A.N.
  • Doria, F.A.
  • de Lessa, C.T.R.

Abstract

We briefly discuss ideas about computable economics, and comment on the contributions of A.A. Lewis and K.V. Velupillai. We then sketch the mathematical background for the Tsuji et al. (Tsuji, M., da Costa, N.C.A., Doria, F.A., 1998. The incompleteness of theories of games. Journal of Philosophical Logic 27, 553-564) result on the undecidability and incompleteness of game theory and of the theory of competitive markets, using that result in the concluding sections of the paper to examine the (possible) empirical interpretation of economic and social systems as computing devices.

Suggested Citation

  • Bartholo, R.S. & Cosenza, C.A.N. & Doria, F.A. & de Lessa, C.T.R., 2009. "Can economic systems be seen as computing devices?," Journal of Economic Behavior & Organization, Elsevier, vol. 70(1-2), pages 72-80, May.
    • Handle: RePEc:eee:jeborg:v:70:y:2009:i:1-2:p:72-80
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    References listed on IDEAS

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    1. K. Vela Velupillai, 2005. "The unreasonable ineffectiveness of mathematics in economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(6), pages 849-872, November.
    2. Kislaya Prasad, 2004. "Constructive and Classical Models for Results in Economics and Game Theory," Metroeconomica, Wiley Blackwell, vol. 55(2‐3), pages 141-154, May.
    3. Kumaraswamy Velupillai, "undated". "The Computable Approach to Economics," Working Papers _005, University of California at Los Angeles, Center for Computable Economics.
    4. K. Vela Velupillai, 2007. "Variations on the Theme of Conning in Mathematical Economics," Department of Economics Working Papers 0703, Department of Economics, University of Trento, Italia.
    5. Lewis, Alain A., 1992. "Some aspects of effectively constructive mathematics that are relevant to the foundations of neoclassical mathematical economics and theory of games," Mathematical Social Sciences, Elsevier, vol. 24(2-3), pages 209-235, November.
    6. Stefano Zambelli, 2004. "Production of Ideas by Means of Ideas: A Turing Machine Metaphor," Metroeconomica, Wiley Blackwell, vol. 55(2‐3), pages 155-179, May.
    7. Lewis, Alain A., 1992. "On turing degrees of Walrasian models and a general impossibility result in the theory of decision-making," Mathematical Social Sciences, Elsevier, vol. 24(2-3), pages 141-171, November.
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    Cited by:

    1. Koppl, Roger, 2010. "Some epistemological implications of economic complexity," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 859-872, December.
    2. R. S. Bartholo & C. A. Cosenza & F. A. Doria & M. Doria & A. Teixeira, 2011. "On Exact and Approximate Solutions for Hard Problems: An Alternative Look," ASSRU Discussion Papers 1103, ASSRU - Algorithmic Social Science Research Unit.

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