Irreducible complexities: from Gödel and Turing to the paradigm of Imperfect Knowledge Economics

Irreducible complexities: from Gödel and Turing to the paradigm of Imperfect Knowledge Economics The paper discusses synthetically an epistemological question in the field of economics: how to translate a real problem into formal terms without a substantial loss of significance for its solution in policy making. The discussion will challenge the plausibility of the basic assumption of ultra-rational subjects who act independently of each other and will propose a research programme in Imperfect Knowledge Economics (in an Appendix the latter is compared with the mainstream model founded on Rational Expectation Hypothesis). References to some results of the debate in mathematics, but also in computer science, are produced in support. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Quality & Quantity Springer Journals

Irreducible complexities: from Gödel and Turing to the paradigm of Imperfect Knowledge Economics

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Publisher
Springer Netherlands
Copyright
Copyright © 2013 by Springer Science+Business Media Dordrecht
Subject
Social Sciences, general; Methodology of the Social Sciences; Social Sciences, general
ISSN
0033-5177
eISSN
1573-7845
D.O.I.
10.1007/s11135-013-9967-5
Publisher site
See Article on Publisher Site

Abstract

The paper discusses synthetically an epistemological question in the field of economics: how to translate a real problem into formal terms without a substantial loss of significance for its solution in policy making. The discussion will challenge the plausibility of the basic assumption of ultra-rational subjects who act independently of each other and will propose a research programme in Imperfect Knowledge Economics (in an Appendix the latter is compared with the mainstream model founded on Rational Expectation Hypothesis). References to some results of the debate in mathematics, but also in computer science, are produced in support.

Journal

Quality & QuantitySpringer Journals

Published: Dec 7, 2013

References

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