The Myth of Equilibrium and The Myth of Optimization: Outside Natural Sciences: A Graduate Lecture

Amaresh Das

The Myth of Equilibrium and The Myth of Optimization: Outside Natural Sciences: A Graduate Lecture

Amaresh Das * §

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The Myth of Equilibrium and The Myth of Optimization: Outside Natural Sciences: A Graduate Lecture

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Abstract

Both the optimization and equilibrium principles turn out to be more akin to common sense than to science. They have been postulated as describing markets, but lack the required empirical underpinning. Optimization is not a magic cure. In order to particularly circumvent some of the technical obstacles for a control problem , it turns out to be practically effective to reduce the system dynamics to a system of ordinary differential equations of considerably higher dimension, Such an approach might replace a theoretical difficulty by a greatly increased computational problem.

References

12 Cites in Article

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Amaresh Das. 2015. "The Myth of Equilibrium and The Myth of Optimization: Outside Natural Sciences: A Graduate Lecture". Global Journal of Science Frontier Research - F: Mathematics & Decision GJSFR-F Volume 15 (GJSFR Volume 15 Issue 44 (F9)).

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GJSFR Volume 15 Issue 44 (F9)

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Journal Specifications

Crossref Journal DOI 10.17406/GJSFR

Print ISSN 0975-5896

e-ISSN 2249-4626

Keywords

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Classification

GJSFR-F Classification MSC 2010: 74Gxx

Submission ReceivedOctober 27, 2015
Peer Review Double Blind
Handling Editor
Accepted November 21, 2015
Published October 29, 2015

Version of record

v1.2

Issue date

October 29, 2015

Language

English

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Article Matrices

Total Score: 131

Country: United States

Subject: Global Journal of Science Frontier Research - F: Mathematics & Decision

Authors: Amaresh Das (PhD/Dr. count: 0)

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Publish Date: 2015 10, Fri

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