The Fecundity of Mathematical Methods in Economic Theory

The Fecundity of Mathematical Methods in Economic Theory

Paperback(Softcover reprint of the original 1st ed. 1961)

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Product Details

ISBN-13: 9789401036757
Publisher: Springer Netherlands
Publication date: 12/21/2011
Edition description: Softcover reprint of the original 1st ed. 1961
Pages: 56
Product dimensions: 8.27(w) x 11.69(h) x 0.01(d)

Table of Contents

I Introduction.- The development of mathematical methods in application to economic theory.- Attempts to define operationally the concept of ‘fecundity’.- The relations between mathematics and logic.- II The Logical Distinction between two types of Mathematical Method — Respectively Mathematical Presentation and Mathematical Operation.- III Attempted Operational Assessment of the Intellectual Economy due to using Mathematical Methods.- Mathematical presentation and economy of thought.- (a) Basic considerations.- (b) An example of application, due to H. von Stackelberg.- (c) A further example, due to Hans Brems.- (d) An example of application, due to Sidney Schoeffler.- Mathematical operations and economy of thought.- (a) An example of application, due to Hans Brems.- (a) (1) Brems’s ‘demonstration’ of a superiority attaching to the mathematical method.- (a) (2) Necessary amplification of Brems’s working.- (a) (3) Brems’s example formulated by verbal logic.- (b) The danger of artificial generalisation from mathematical methods, illustrated in a criticism by G. Mackenroth.- Provisional summary.- IV Investigation of the Intelligibility of Mathematical Methods.- Definition of the concept ‘intelligibility’.- An attempted conclusion as to intelligibility, based on an example of R. Stucken.- V Critical Appraisal of the Accuracy of Mathematical Methods as applied to Economic Theory.- Fundamental considerations.- Quantitative estimation of the final errors resulting from mathematical operations attributable to differences in the input values.- The inexactitude of mathematical operations.- (a) An applied example: Platt’s criticism of Leontieff’s ‘Inter-Industry Studies’.- (b) General remarks on the quantisation of fundamental economic quantities.- Imperfect accuracy of mathematical presentation as exemplified in the market demand for household consumer goods.- The significance of the psycho-physical basic principles underlying the exactness of mathematical methods.- (a) Max Weber’s critical observations on the economic significance of psycho-physical laws.- (b) An attempt to reformulate the market action of a bidder by reference to the basic psycho-physical laws.- W. Krelle’s theory of domestic demand considered from the standpoint of procedural accuracy.- VI Conclusions.- Notes.

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