In the field of economic analysis, computability in the formation of economic hypotheses is seen as the way forward. In this book, Professor Velupillai implements a theoretical research program along these lines. Choice theory, learning rational expectations equlibria, the persistence of adaptive behavior, arithmetical games, aspects of production theory, and economic dynamics are given recursion theoretic (i.e. computable) interpretations.

Computable Foundations for Economics is a unified collection of essays, some of which are published here for the first time and all of which have been updated for this book, on an approach to economic theory from the point of view of algorithmic mathematics. By algorithmic mathematics the author means computability theory and constructive mathematics. This is in contrast to orthodox mathematical economics and game theory, which are formalised with the mathematics of real analysis, underpinned by what is called the ZFC formalism, i.e., set theory with the axiom of choice. This reliance on ordinary real analysis and the ZFC system makes economic theory in its current mathematical mode completely non-algorithmic, which means it is numerically meaningless. The book provides a systematic attempt to dissect and expose the non-algorithmic content of orthodox mathematical economics and game theory and suggests a reformalization on the basis of a strictly rigorous algorithmic mathematics. This removes the current schizophrenia in mathematical economics and game theory, where theory is entirely divorced from algorithmic applicability – for experimental and computational exercises. The chapters demonstrate the uncomputability and non-constructivity of core areas of general equilibrium theory, game theory and recursive macroeconomics. The book also provides a fresh look at the kind of behavioural economics that lies behind Herbert Simon’s work, and resurrects a role for the noble classical traditions of induction and verification, viewed and formalised, now, algorithmically. It will therefore be of particular interest to postgraduate students and researchers in algorithmic economics, game theory and classical behavioural economics.

This book addresses major issues such as a growing world energy demand, environmental degradation due to anthropogenic greenhouse gas (GHG) emission, and risk management of disastrous events such as pandemics, abnormal climate, and earthquakes. Using cutting-edge analytical tools, particularly computable general equilibrium (CGE) modelling, the analyses are focused on a very wide range of policy-relevant economic questions for the Asia-Pacific region, especially for Japan, China, India, Vietnam, and smaller nations, including Brunei, Timor Leste, and Fiji. The first part considers (a) the effects of climate change on agriculture sectors, energy policies, and future GHG emission trends, (b) adaptation to climate changes in energy policy and its impacts on the economies, and (c) risk management of catastrophic events such as global pandemics. The second part examines (a) energy environmental issues, (b) economic impacts of natural disaster and depopulation, and (c) effects of informatics development on risk management, using CGE modelling and other methods in regional science fields. Contributors are internationally active leading CGE modellers and environmental economists. The book should be greatly beneficial for scholars and graduate students as well as policy makers who are interested in the economic effects and management of risks relating to climate change and disastrous events.

The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.

This book explores an alternative approach to the conventional, market-based, view of economic theory and economic policy, at theoretical, numerical and applicable levels. The chapters provide a theoretical, empirical, and algorithmic approach to marcodynamics, Sraffian economics, and current policy issues. Post-Keynesian macroeconomics, business cycle theory, the trade cycle, microfoundations, and the Philips Machine are also covered. This book aims to challenge orthodox ideas and provide a lens through which to honour the work of Stefano Zambelli. It will be of relevant to students and academics interested in economics.

The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences.

The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences.

The Oxford Handbook of Computational Economics and Finance provides a survey of both the foundations of and recent advances in the frontiers of analysis and action. It is both historically and interdisciplinarily rich and also tightly connected to the rise of digital society. It begins with the conventional view of computational economics, including recent algorithmic development in computing rational expectations, volatility, and general equilibrium. It then moves from traditional computing in economics and finance to recent developments in natural computing, including applications of nature-inspired intelligence, genetic programming, swarm intelligence, and fuzzy logic. Also examined are recent developments of network and agent-based computing in economics. How these approaches are applied is examined in chapters on such subjects as trading robots and automated markets. The last part deals with the epistemology of simulation in its trinity form with the integration of simulation, computation, and dynamics. Distinctive is the focus on natural computationalism and the examination of the implications of intelligent machines for the future of computational economics and finance. Not merely individual robots, but whole integrated systems are extending their "immigration" to the world of Homo sapiens, or symbiogenesis.

This book aims to answer two questions that are fundamental to the study of agent-based economic models: what is agent-based computational economics and why do we need agent-based economic modelling of economy? This book provides a review of the development of agent-based computational economics (ACE) from a perspective on how artificial economic agents are designed under the influences of complex sciences, experimental economics, artificial intelligence, evolutionary biology, psychology, anthropology and neuroscience. This book begins with a historical review of ACE by tracing its origins. From a modelling viewpoint, ACE brings truly decentralized procedures into market analysis, from a single market to the whole economy. This book also reviews how experimental economics and artificial intelligence have shaped the development of ACE. For the former, the book discusses how ACE models can be used to analyse the economic consequences of cognitive capacity, personality and cultural inheritance. For the latter, the book covers the various tools used to construct artificial adaptive agents, including reinforcement learning, fuzzy decision rules, neural networks, and evolutionary computation. This book will be of interest to graduate students researching computational economics, experimental economics, behavioural economics, and research methodology.

This volume, with a foreword by Sir Roger Penrose, discusses the foundations of computation in relation to nature.It focuses on two main questions: What is computation? How does nature compute?The contributors are world-renowned experts who have helped shape a cutting-edge computational understanding of the universe. They discuss computation in the world from a variety of perspectives, ranging from foundational concepts to pragmatic models to ontological conceptions and philosophical implications.The volume provides a state-of-the-art collection of technical papers and non-technical essays, representing a field that assumes information and computation to be key in understanding and explaining the basic structure underpinning physical reality. It also includes a new edition of Konrad Zuse''s OC Calculating SpaceOCO (the MIT translation), and a panel discussion transcription on the topic, featuring worldwide experts in quantum mechanics, physics, cognition, computation and algorithmic complexity.The volume is dedicated to the memory of Alan M Turing OCo the inventor of universal computation, on the 100th anniversary of his birth, and is part of the Turing Centenary celebrations.