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Title: Notes on a ‘Constructive Proof of the Existence of a Collateral Equilibrium’
Authors: Ragupathy, Venkatachalam;Velupillai, K. Vela
Contributors: 經濟系人工智慧經濟學研究中心
Keywords: Proof;Constructive;Effective;Existence
Date: 2015-06
Issue Date: 2015-08-05 14:25:29 (UTC+8)
Abstract: In an interesting article in this journal, Ma (Comput Econ 45:1–30, 2015), claims that a constructive proof of existence of a Collateral Equilibrium (with a Leontief utility function) is provided in the paper. Moreover, there is also the additional claim that ‘on the basis of this proof, we can (and we shall) develop an algorithm for computing that equilibrium’ (ibid, p. 1). Thirdly, the statements that ‘the algorithm is shown by simulation to be effective’, and its effectiveness is demonstrated by ‘the accuracy of the equilibrium it provided’. These claims are, from a recursion theoretic (or computability theory) point of view, meaningless.
Relation: Computational Economics, Volume 48, Issue 1, 1 June 2016, Pages 179-181
Data Type: article
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