عنوان

On a General Economic Theory of Motion

(Number (ISBN

3540049592

(Number (ISBN

3642462316

(Number (ISBN

9783540049593

(Number (ISBN

9783642462313

Number

b565101

Title Proper

On a General Economic Theory of Motion

General Material Designation

[Book]

First Statement of Responsibility

by M.J.P. Magill.

Place of Publication, Distribution, etc.

Berlin, Heidelberg

Name of Publisher, Distributor, etc.

Springer Berlin Heidelberg

Date of Publication, Distribution, etc.

1970

Series Title

Lecture Notes in Operations Research and Mathematical Systems, Economics, Computer Science, Information and Control, 36.

Text of Note

I On the Origin of the Ideas --; 1. Origin in mathematical economics and mathematical physics. --; 2. Theory of motion in physics: Galileo, Newton, Euler, Lagrange, Hamilton. --; 3. Principle of Statics in economics and mechanics. --; 4. Idea of central principle of motion for economics. --; 5. Present theory differert from that of Samuelson and Hicks. --; 6. Ramsey's equations of motion. --; 7. Fisher's dynamical theory of valuation. --; 8. Duality between allocation and valuation in statics and dynamics. --; 9. Relation of present theory to dynamic programming and optimal control theory. --; 10. Conclusion --; II On the Objective Function of an Economic System --; 11. Importance of general theory of motion. --; 12. Influence of uncertainty on motion: first condition. --; 13. Concept of economic system. --; 14. Objective function and constraints: second condition. --; 15. Euler's method eliminates the constraints. --; 16. First example, motion of corporation. --; 17. Second example, motion of aggregate economy. --; III On the Principle of Stationary Present Value --; 18. Basic motive underlying motion is summarised in Axiom of Rational Choice: third condition. --; 19. The basic Principle of Motion is the Principle of Stationary Present Value. --; 20. Pure Allocation Equations of motion. --; 21. Convexity condition. --; 22. Example, equations of motion of corporation. --; 23. Economic, interpretation. --; 24. Example, equations of motion of aggregate economy. --; 25. Relation of present theory to analytical mechanics; Principle of Stationary Action, Lagrange's equations of motion --; IV On the Duality of Motion: Allocation and Valuation --; 26. Fisher's dynamical theory of valuation: the Valuation Principle. --; 27. The Maximum Principle and the Dual Equations of motion. --; 28. Geometric interpretation of dual theory. --; 29. Example of geometric interpretation. --; 30. The Principal Function, the Present Value Function and the fundamental valuation equation. --; 31. Example, dual theory for corporation. --; 32. Example, dual theory for aggregate economy. --; 33. Relation of dual theory to canonical theory of motion in analytical mechanics: the canonical equations, the Action Function, and Hamilton-Jacobi equation. --; V On the Possibility of Wave Motion --; 34. Present Value surfaces propagate according to Huygens Principle. --; 35. Huygens Principle and duality. --; 36. Wave phenomena in optics and mechanics lead to wave optics and quantum mechanics. --; 37. Parallel between geometrical optics, classical mechanics and economic theory of motion suggests transition to wave theory of motion: the fundamental relations. --; 38. Derivation of wave equation for economic system. --; 39. Interpretation of square of wave function as probability function on co-ordinate space: the emergence of uncertainty. --; 40. Principle of Stationary Present Value derived from wave theory in small wavelength limit.

Economics.

Class number

Book number

by M.J.P. Magill.

M J P Magill

Electronic name

[Book]

Y