Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 黄锦就教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1007/s001990050281 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/32WOS source URL
其它资讯
摘要We provide a "computable counterexample" to the Arrow-Debreu competitive equilibrium existence theorem [2]. In particular, we find an exchange economy in which all components are (Turing) computable, but in which no competitive equilibrium is computable. This result can be interpreted as an impossibility result in both computability-bounded rationality (cf. Binmore [5], Richter and Wong [35]) and computational economics (cf. Scarf [39]). To prove the theorem, we establish a "computable counterexample" to Brouwer's Fixed Point Theorem (similar to Orevkov [http://aims.cuhk.edu.hk/converis/portal/Publication/32]) and a computable analogue of a characterization of excess demand functions (cf. Mas-Colell [26], Geanakoplos [16], Wong [50]).
着者Richter MK, Wong KC
期刊名称ECONOMIC THEORY
出版年份1999
月份7
日期1
卷号14
期次1
出版社SPRINGER VERLAG
页次1 - 27
国际标準期刊号0938-2259
语言英式英语
关键词bounded rationality; computability; general equilibrium; recursive analysis
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
