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Conservation Laws in Continuous and Discrete Models

In: Symmetry and Economic Invariance

Author

Listed:
  • Ryuzo Sato

    (New York University)

  • Rama V. Ramachandran

    (Pebble Brook Lane)

Abstract

The study of economic conservation laws is still in its infancy relative to its counterparts in physics and engineering. Yet this is an area where there is great interest and rapid progress is being made. In economics, the conservation law has its roots in the most celebrated article of Frank Ramsey (1928). But it was Paul A. Samuelson (1970) who first explicitly introduced the concept of conservation law to theoretical economics. The recent works by Weitzman (1976); Sato (1981, 1985); Kemp and Long (1982); Samuelson (1971, 1982); Sato, Nono and Mimura (1983); and Sato and Maeda (1987) provide an indication of the rapid progress being made in this field.

Suggested Citation

  • Ryuzo Sato & Rama V. Ramachandran, 2014. "Conservation Laws in Continuous and Discrete Models," Advances in Japanese Business and Economics, in: Symmetry and Economic Invariance, edition 2, chapter 0, pages 143-176, Springer.
    • Handle: RePEc:spr:advchp:978-4-431-54430-2_9
    DOI: 10.1007/978-4-431-54430-2_9
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