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Constructive and computable Hahn–Banach theorems for the (second) fundamental theorem of welfare economics

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  • Vela Velupillai, K.

Abstract

The Hahn–Banach Theorem plays a crucial role in the second fundamental theorem of welfare economics. To date, all mathematical economics and advanced general equilibrium textbooks concentrate on using non-constructive or incomputable versions of this celebrated theorem. In this paper we argue for the introduction of constructive or computable Hahn–Banach theorems in mathematical economics and advanced general equilibrium theory. The suggested modification would make applied and policy-oriented economics intrinsically computational.

Suggested Citation

  • Vela Velupillai, K., 2014. "Constructive and computable Hahn–Banach theorems for the (second) fundamental theorem of welfare economics," Journal of Mathematical Economics, Elsevier, vol. 54(C), pages 36-39.
    • Handle: RePEc:eee:mateco:v:54:y:2014:i:c:p:36-39
    DOI: 10.1016/j.jmateco.2014.08.004
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    References listed on IDEAS

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    1. Debreu, Gerard, 1984. "Economic Theory in the Mathematical Mode," American Economic Review, American Economic Association, vol. 74(3), pages 267-278, June.
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    4. Starr,Ross M., 2011. "General Equilibrium Theory," Cambridge Books, Cambridge University Press, number 9780521826457, October.
    5. Mark Blaug, 2007. "The Fundamental Theorems of Modern Welfare Economics, Historically Contemplated," History of Political Economy, Duke University Press, vol. 39(2), pages 185-207, Summer.
    6. Kumaraswamy Vela Velupillai, 2013. "Turing's Economics. A Birth Centennial Homage," Economia politica, Società editrice il Mulino, issue 1, pages 13-32.
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