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Foundations of Economic Analysis is a book by Paul A. Samuelson published in 1947 (Enlarged ed., 1983) by Harvard University Press. It is based on Samuelson's 1941 doctoral dissertation at Harvard University. The book sought to demonstrate a common mathematical structure underlying multiple branches of economics from two basic principles ...
Complexity economics is the application of complexity science to the problems of economics. It relaxes several common assumptions in economics, including general equilibrium theory. While it does not reject the existence of an equilibrium, it sees such equilibria as "a special case of nonequilibrium", and as an emergent property resulting from ...
e. In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium. General equilibrium theory contrasts with the theory of partial ...
Cartographic generalization is the process of selecting and representing information of a map in a way that adapts to the scale of the display medium of the map. In this way, every map has, to some extent, been generalized to match the criteria of display. This includes small cartographic scale maps, which cannot convey every detail of the real ...
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods.
Maximum theorem. The maximum theorem provides conditions for the continuity of an optimized function and the set of its maximizers with respect to its parameters. The statement was first proven by Claude Berge in 1959. [1] The theorem is primarily used in mathematical economics and optimal control .
Abstract economy. In theoretical economics, an abstract economy (also called a generalized N-person game) is a model that generalizes both the standard model of an exchange economy in microeconomics, and the standard model of a game in game theory. An equilibrium in an abstract economy generalizes both a Walrasian equilibrium in microeconomics ...
Samuelson condition. The Samuelson condition, due to Paul Samuelson, [1] in the theory of public economics, is a condition for optimal provision of public goods . For an economy with n consumers, the conditions is: MRS i is individual i 's marginal rate of substitution and MRT is the economy's marginal rate of transformation between the public ...