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Theory Of Technical Change And Economic Invariance
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Book Synopsis Theory of Technical Change and Economic Invariance by : Ryuzo Sato
Download or read book Theory of Technical Change and Economic Invariance written by Ryuzo Sato and published by Academic Press. This book was released on 2014-05-10 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theory of Technical Change and Economic Invariance: Application of Lie Groups presents the economic invariance problems observable behavior under general transformations such as taste change or technical change. This book covers a variety of topics in economic theory, ranging from the analysis of production functions to the general recoverability problem of optimal dynamic behavior. Organized into nine chapters, this book begins with an overview of the theory of observable behavior by analyzing the invariant relationships among economic variables. This text then examines the Lie group theory which provides one of the most efficient methods of studying invariance properties. Other chapters consider the analysis of exogenous technical change, a process partly due to dynamic market forces of supply and demand. This book discusses as well the topics closely related to parametric changes under Lie groups and related transformations. The final chapter deals with mathematical foundations of the theory of observable market behavior. This book is a valuable resource for economists.
Book Synopsis Technical Change and Economic Theory by : Giovanni Dosi
Download or read book Technical Change and Economic Theory written by Giovanni Dosi and published by Burns & Oates. This book was released on 1988 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sustained critique of mainstream economic theory and discussion of the development of an alternative. Annotation copyrighted by Book News, Inc., Portland, OR
Book Synopsis Invariance Principles and the Structure of Technology by : R. Sato
Download or read book Invariance Principles and the Structure of Technology written by R. Sato and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of Lie groups has proven to be a most powerful analytical tool in many areas of modern scientific endeavors. It was only a few years ago that economists discovered the usefulness of this approach in their study of the frontiers of modern economic theory. These frontiers include the areas of technical change and productivity, technology and preference, economic conservation laws, comparative statics and integrability conditions, index number problems, and the general theory of ~ observable market behavior (Sato [1980, 1981], Nono [1971], Sato and N~no [1983], Russell [1983]). 1 In Nono [1971] and Sa to [1981, Chapter 4] the concept of "G-neutral" (group neutral) technical change was first introduced as a natural extension of the well-known concepts of Hicks, Harrod, Solow and Sato-Beckmann-Rose neutrality. The present monograph contains a further extension of the G-neutral technical change to the case of non-constant-returns-to-scale technology and to the case of multiple factor inputs. The methodology of total productivity estimation by means of Lie group transformations is also developed in this monograph. We would like to express our sincere thanks to many individuals notably to Professor M. J. Beckmann, Professor F. Mimura, Professor G. Suzawa, T. Mitchell, K. Mino and P. Calem, for their numerous contributions at various stages of this work. We are also grateful to Marion Wathey for her usual superb typing of this difficult manuscript. Providence, R. I. , U. S. A.
Book Synopsis Symmetry and Economic Invariance by : Ryuzo Sato
Download or read book Symmetry and Economic Invariance written by Ryuzo Sato and published by Springer Science & Business Media. This book was released on 2013-12-09 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Symmetry and Economic Invariance (second enhanced edition) explores how the symmetry and invariance of economic models can provide insights into their properties. Although the professional economist of today is adept at many of the mathematical techniques used in static and dynamic optimization models, group theory is still not among his or her repertoire of tools. The authors aim to show that group theoretic methods form a natural extension of the techniques commonly used in economics and that they can be easily mastered. Part I provides an introduction that minimizes prerequisites including prior knowledge of group theory. Part II discusses recent developments in the field.
Book Synopsis Invariance Principles and the Structure of Technology by : Ryūzō Satō
Download or read book Invariance Principles and the Structure of Technology written by Ryūzō Satō and published by Springer Verlag. This book was released on 1983 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Biased Technical Change and Economic Conservation Laws by : Ryuzo Sato
Download or read book Biased Technical Change and Economic Conservation Laws written by Ryuzo Sato and published by Springer Science & Business Media. This book was released on 2006-06-01 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productivity of inputs is an important determinant of the competitiveness of firms in national and international markets. Productivity growth arises from deliberate decisions to innovate but the technological opportunities could be such that different inputs would have different rates of growth. Previous literature has mostly concentrated on labor productivity but empirical studies indicate that productivity of capital is also increasing. One of the objectives of this book is to examine the difference or bias in the productivity growth of the two inputs. In this book, application of this general approach to study of biased technical change is developed and new empirical results presented for both macroeconomies and microeconomic firms.
Book Synopsis Invariance Principles and the Structure of Technology by : R Sato
Download or read book Invariance Principles and the Structure of Technology written by R Sato and published by . This book was released on 1983-03-01 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Theory, Dynamics and Markets by : Takashi Negishi
Download or read book Economic Theory, Dynamics and Markets written by Takashi Negishi and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Theory, Dynamics, and Markets. The collection of essays in honor of Ryuzo Sato, written by his colleagues and students, covers the many fields of economic theory and policy to which he has contributed. The first section pays tribute to his contributions to mathematical economics and economic theory. Ryuzo Sato is known for his work in growth theory and technical progress, and the second section has a number of papers on macroeconomics and dynamics. The third section has a number of papers on financial markets and their functioning in Japan and the United States. The next section examines various aspects of the economics of firms and industry. Ryuzo Sato has been very involved in analyzing the economic and business relations between Japan and the United States, and the last section is devoted to comparative analysis of economic systems.
Book Synopsis Economics and Technical Change by : Arnold Heertje
Download or read book Economics and Technical Change written by Arnold Heertje and published by London : Weidenfeld & Nicolson. This book was released on 1977 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: On the occasion of the fiftieth anniversary of the Postal Payments System, the former Director General of the Dutch Post Office asked Professor Heertje to write a book on Economics and Technical Development, and this is the English translation of the original Dutch text. This is basically a non-mathematical book on the subject, which deals with the history of economic thought on technical development, the history of technology, production theories and the significance of technical development for economic growth, monopoly power, and economic policy. Informed by the author's knowledge of the original literature, and his proficiency in its five languages, the terminology is exact, the exposition is clear, this text should bridge English-speaking and Continental European thought on this subject.
Book Synopsis Symmetry and Economic Invariance: An Introduction by : Ryuzo Sato
Download or read book Symmetry and Economic Invariance: An Introduction written by Ryuzo Sato and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Symmetry and Economic Invariance: An Introduction explores how symmetry and invariance of economic models can provide insights into their properties. While the professional economist is nowadays adept at many of the mathematical techniques used in static and dynamic optimization models, group theory is still not among his or her repertoire of tools. The authors aim to show that group theoretic methods form a natural extension of the techniques commonly used in economics and that they can be easily mastered.
Book Synopsis Evolutionary Theories of Economic and Technological Change by : (Pier) Paolo Saviotti
Download or read book Evolutionary Theories of Economic and Technological Change written by (Pier) Paolo Saviotti and published by Routledge. This book was released on 2018-03-29 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, evolutionary theories of economic and technological change have attracted a considerable amount of attention which reflects the problems encountered by mainstream analysis of dynamic phenomena and quantitative change. This book, originally published in 1991, develops the debate and draws on the concepts of evolutionary biology, nonequilibrium thermodynamics, systems and organization theory. While recognizing that new technology is not the cause of quantitative change, the editors claim it should play a more central role in economic theory and policy. At the same time, the ground is laid for a more generalized concept of innovation and experimentation and their relation to routine activities. The book is intended for economists.
Book Synopsis Technological Change and Network Effects in Growth Regimes by : Torsten Heinrich
Download or read book Technological Change and Network Effects in Growth Regimes written by Torsten Heinrich and published by Routledge. This book was released on 2014-06-03 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this new volume it is argued that network effects are much more common than usually assumed, and that they have a profound impact on many aspects of economic systems, especially technological change and economic growth. The analysis and modelling of this interrelationship is the central focus of this book. While there exists a vast body of literature on economic growth, the theories put forward so far have had limited success in explaining observed patterns of economic growth. ‘Growth cycles’ in particular continue to elude standard economic models, though evolutionary economics has made some progress. Seeking to fill the gap, Torsten Heinrich’s innovative approach uses microeconomics to explain heterogeneous sectoral dynamics on the meso level, and then aggregating these to observed macroeconomic growth rates. In this way, it is shown that an evolutionary model of technological change with network effects can explain not only commonly observed asymmetric industry structures, monopolies and oligopolies but also ‘growth cycles’. The book includes a comprehensive account of the most influential economic growth theories, a discussion of the research on network effects as well as an introduction to the methodology, the model, and a case study on the recent emergence of information and communication technology. This important new volume will be relevant to all those interested in theoretical economics, growth theory, innovation economics, agent based modelling and industry dynamics.
Book Synopsis Economics of Structural and Technological Change by : Cristiano Antonelli
Download or read book Economics of Structural and Technological Change written by Cristiano Antonelli and published by Routledge. This book was released on 2002-09-11 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technology has long been seen as a path to economic growth. However there is considerable debate about the exact nature of this relationship. Economics of Structural and Technological Change employs a wide range of theoretical and applied approaches to explore the concept of technological change. The book begins with a series of in-depth discussions of the economic analysis of technological change. The second section contains a discussion of theoretical models of technological change, focusing on issues such as time and innovation. The third section brings together a number of applied analyses of technological change and examines the effect of factors such as human resource constraints, patenting and science and technology indicators.
Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson
Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Richard R. Nelson and Sidney G. Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Book Synopsis Value, Technical Change, and Crisis by : David Laibman
Download or read book Value, Technical Change, and Crisis written by David Laibman and published by M.E. Sharpe. This book was released on 1992 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part III: Cycles and Crises -- 9. Cycles and Crises: An Overview -- 10. Profit Cycles and Investment Catastrophes -- 11. Cyclical Growth and Intersectoral Dynamics -- 12. From Consistent Path to Secular Crisis -- Part IV: Before and After Capitalism -- 13. Modes of Production and Theories of Transition -- 14. The Soviet Union: Historical Materialist Interpretations -- 15. Socialism: Prices, Social Structures, and Labor Values -- 16. Toward a Working Theory of the Socialist Economy -- References -- Index -- About the Author
Book Synopsis Conservation Laws and Symmetry: Applications to Economics and Finance by : Ryuzo Sato
Download or read book Conservation Laws and Symmetry: Applications to Economics and Finance written by Ryuzo Sato and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modem geometric methods combine the intuitiveness of spatial visualization with the rigor of analytical derivation. Classical analysis is shown to provide a foundation for the study of geometry while geometrical ideas lead to analytical concepts of intrinsic beauty. Arching over many subdisciplines of mathematics and branching out in applications to every quantitative science, these methods are, notes the Russian mathematician A.T. Fomenko, in tune with the Renais sance traditions. Economists and finance theorists are already familiar with some aspects of this synthetic tradition. Bifurcation and catastrophe theo ries have been used to analyze the instability of economic models. Differential topology provided useful techniques for deriving results in general equilibrium analysis. But they are less aware of the central role that Felix Klein and Sophus Lie gave to group theory in the study of geometrical systems. Lie went on to show that the special methods used in solving differential equations can be classified through the study of the invariance of these equations under a continuous group of transformations. Mathematicians and physicists later recognized the relation between Lie's work on differential equations and symme try and, combining the visions of Hamilton, Lie, Klein and Noether, embarked on a research program whose vitality is attested by the innumerable books and articles written by them as well as by biolo gists, chemists and philosophers.
Book Synopsis Economic Evolution and Structural Adjustment by : David Batten
Download or read book Economic Evolution and Structural Adjustment written by David Batten and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the beginning of the fifties, the ruling paradigm in the discipline of economics has been that of a competitive general equilibrium. Associated dynamic analyses have therefore been preoccupied with the stability of this equilibrium state, corresponding simply to studies of comparative statics. The need to permeate the boundaries of this paradigm in order to open up new pathways for genuine dynamic analysis is now pressing. The contributions contained in this volume spring from this very ambition. A growing circle of economists have recently been inspired by two distinct but complementary sources: (i) the pathbreaking work of Joseph Schumpeter, and (ii) recent contributions to physics, chemistry and theoretical biology. It turns out that problems which are firmly rooted in the economic discipline, such as innovation, technological change, business cycles and economic development, contain many clear parallels with phenomena from the natural sciences such as the slaving principle, adiabatic elimination and self-organization. In such dynamic worlds, adjustment processes and adaptive behaviour are modelled with the aid of the mathematical theory of nonlinear dynamical systems. The dynamics is defined for a much wider set of conditions or states than simply a set of competitive equilibria. A common objective is to study and classify ways in which the qualitative properties of each system change as the parameters describing the system vary.
