Computation and Simulation have always played a role in economics – whether it be pure economic theory or any variant of applied, especially policy-oriented, macro- and microeconomics or what has increasingly come to be called empirical or experimental economics. Computations and simulations are also intrinsically dynamic. This triptych – computation, simulation and dynamic – is given natural foundations, mainly as a result of developments in the mathematics underpinnings in the potentials of computing, using digital technology. A running theme in this (...) essay is the recognition that, increasingly, the development of economic theory seems to go hand in hand with advances in the theory and practice of computing, which is, in turn, a catalyst for the move away from too much reliance on any kind of mathematics for the formalisation of economic entities that is inconsistent with the mathematical, methodological and epistemological foundations of the theory of computation. (shrink)

The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from (...) Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences. (shrink)

In this essay, the first statistical and stochastic treatments of chemical dynamics are analyzed and discussed, in particular the diffusive description of chemical reactions. The first part of the paper introduces the historical and methodological basis of the theories about stochastic processes and diffusion as well as their lesser-known applications in chemical kinetics, which were advanced by Jens Anton Christiansen (1888–1969). In the second, part we will focus our attention on the early works of Oskar Benjamin Klein (1894–1977) and Hendrik (...) Anton Kramers (1894–1952) on electrolytes and the latter’s more mature work, which completes and gives a firm theoretical background to Christiansen’s description. (shrink)