Why is Algorithmic Theory a Necessary Basis of Economics?

Li, Bin (2020): Why is Algorithmic Theory a Necessary Basis of Economics?

Abstract

This paper is a complementary explanation of the World Economics Association (WEA) 2019 “Going Online” conference paper “How Could Cognitive Revolution Happen To Economics? An Introduction to the Algorithm Framework Theory”.

• Item Type: MPRA Paper
• Language: English
• Keywords: Bounded Rationality; Instructions; Algorithm; Combinatorial Explosion; Subjectivity; Mental Distortion
• Subjects: A - General Economics and Teaching > A1 - General Economics > A10 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B0 - General > B00 - General; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C63 - Computational Techniques ; Simulation Modeling; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z10 - General

References

Li, Bin (2006). The Algorithmic Economics: A General Theory on Bounded Rationality (in Chinese), Economic Research Information, No.6. pp3–14.

Li, Bin (2009). A Theory for Unification of Social Sciences: Algorithm Framework Theory (in Chinese). Beijing: China Renmin University Press. English translation available here: https://www.researchgate.net/profile/Bin_Li197

Li, Bin (2011). The Synthesis of Various Economics: An All-in-One Solution, Paper presented at the annual conference of Association for Heterodox Economics (AHE), Nottingham, UK. https://www.hetecon.net/wp-content/uploads/2019/12/Li_AHE2011061R.pdf

Li, Bin (2012). A Preliminary Inquiry into Principles of the General Social Science: The Algorithmic Approach (in Chinese). Beijing: China Renmin University Press.

Li, Bin (2019). How Could The Cognitive Revolution Happen To Economics? An Introduction to the Algorithm Framework Theory, World Economics Association (WEA) online conference “Going Digital”. https://goingdigital2019.weaconferences.net/papers/how-could-the-cognitive-revolution-happen-to-economics-an-introduction-to-the-algorithm-framework-theory/

Li, Bin (2019). Foundations of Algorithmic Economics: The Cognitive Revolution and the Grand Synthesis of Economics (in Chinese). Beijing: Economic Daily Press.