On the role of computation in economic theory

Jerry L. Bona, Manuel S. Santos

Research output: Contribution to journalArticlepeer-review

11 Scopus citations

Abstract

This essay is concerned with computation as a tool for the analysis of mathematical models in economics. It is our contention that the use of high-performance computers is likely to play the substantial role in providing understanding of economic models that it does with regard to models in the physical and biological sciences. The main thrust of our commentary is that numerical simulations of mathematical models are in certain respects like experiments performed in a laboratory, and that this view imposes conditions on the way they are carried out and reported.Journal of Economic LiteratureClassification Numbers: C63, C68.

Original languageEnglish (US)
Pages (from-to)241-281
Number of pages41
JournalJournal of Economic Theory
Volume72
Issue number2
DOIs
StatePublished - Feb 1 1997
Externally publishedYes

ASJC Scopus subject areas

  • Economics and Econometrics

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