To Infinity and Beyond: Scaling Economic Theories via Logical Compactness
@article{Gonczarowski2019ToIA, title={To Infinity and Beyond: Scaling Economic Theories via Logical Compactness}, author={Yannai A. Gonczarowski and S. Kominers and Ran I. Shorrer}, journal={Microeconomics: General Equilibrium & Disequilibrium Models eJournal}, year={2019} }
Many economic-theoretic models incorporate finiteness assumptions that, while introduced for simplicity, play a real role in the analysis. Such assumptions introduce a conceptual problem, as results that rely on finiteness are often implicitly nonrobust; for example, they may rely on edge effects or artificial boundary conditions. Here, we present a unified method that enables us to remove finiteness assumptions, such as those on datasets, market sizes, and time horizons. We then apply our… CONTINUE READING
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