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dc.contributor.authorVelupillai, K. V.
dc.date.accessioned2018-08-24T08:26:35Z
dc.date.available2018-08-24T08:26:35Z
dc.date.issued2005-11-01
dc.identifier.citationVelupillai, K. V. (2005). The unreasonable ineffectiveness of mathematics in economics. Cambridge Journal of Economics 29 (6), 849-872
dc.identifier.issn0309-166X,1464-3545
dc.identifier.urihttp://hdl.handle.net/10379/9956
dc.description.abstractIn this paper, I attempt to show that mathematical economics is unreasonably ineffective. Unreasonable, because the mathematical assumptions are economically unwarranted; ineffective because the mathematical formalisations imply non-constructive and uncomputable structures. A reasonable and effective mathematisation of economics entails Diophantine formalisms. These come with natural undecidabilities and uncomputabilities. In the face of this, I conjecture that an economics for the future will be freer to explore experimental methodologies underpinned by alternative mathematical structures. The whole discussion is framed within the context of the celebrated Wignerian theme: The Unreasonable Effectiveness of Mathematics in the Natural Sciences.
dc.publisherOxford University Press (OUP)
dc.relation.ispartofCambridge Journal of Economics
dc.subjectgeneral equilibrium theory
dc.subjectcomputable general equilibrium
dc.subjectcomputable economics
dc.subjectconstructive mathematics
dc.subjectmathematical economics
dc.titleThe unreasonable ineffectiveness of mathematics in economics
dc.typeArticle
dc.identifier.doi10.1093/cje/bei084
dc.local.publishedsourcehttp://www.economics.nuigalway.ie/downloads/vela/Unreasonable.pdf
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