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- W2140898717 abstract "I would like to thank Professor Gardawski for inviting me here. I must admit I accepted this invitation rather blindly as I am a ‘migrant’ both in the sense of place, as I graduated from the University, and faculty, because mine is mathematics. I have been dealing with the mathematical economics for many years and I think I can say I also deal with economics. However, my approach, my views and what I consider scientifi c knowledge is contrary to most opinions that have been expressed here so far. In eff ect, it seems to me most opinions so far have been rather old-fashioned, as regards for instance the relations of the formal model with the economic reality. Th e formal model is not supposed to describe the exact reality. It is there to present selected relations between various phenomena so as to facilitate research on them. For example the representative agent is an instrument we use for analysis but it is not something that describes reality or an average. Th e theory of general equilibrium is not just a theory of historical signifi cance. It is used to explain not only microeconomic problems but also macroeconomic and fi nancial (see: Borglin 2004 or LeRoy, Werner 2001). A model can have many equilibriums, also stable ones. Th e concept of bifurcation allows to model the transition from one state of equilibrium to another changing parameters. Depending on what the model is, they can describe for instance a technological process or employment. And it is not like we always stay in one state of equilibrium. Th e models with bifurcation notion have been used since the 1990s. Th ere is a catastrophe theory which also explains certain changes. Th e literature on this subject is for example A. Jakimowicz (2003), Gandolfo (2005), Medio" @default.
- W2140898717 created "2016-06-24" @default.
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- W2140898717 date "2010-01-01" @default.
- W2140898717 modified "2023-09-26" @default.
- W2140898717 title "Meanders of the Theory of Social Choice" @default.
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