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- W304082183 abstract "This paper is based on an alternative to standard ‘rational choice’’ assumptions in economics, which assert that the human mind is isomorphic with a utility function and the firm with a technological cost function, expressed over a range of real numbers. The alternative is based on discrete mathematics and computational psychology. The mathematical architecture is an extension and elaboration of ACT-R (Anderson 1993, Anderson & Lebiere 1998), a leading computer-based model in experimental cognitive psychology. Mathematically, this is a two level architecture with a ‘symbolic’ level of structures and expressions in discrete logic, and a ‘subsymbolic’ or statistical level which selects which structures or productions at the ‘symbolic’ level are activated. The technique involves the construction of sets and relations representing human behavior and the physical environment, together with appropriate index sets, to express a discrete mathematics of both ‘choice’ and ‘production’. On the ‘choice’ side, this enables discrete modeling of varieties of emotional and sensational appraisals complemented by cognition, corresponding to a variety of results in both experimental psychology and experimental economics. On the ‘production’ side, economic organization is expressed in discrete form as (1) classes of instrumental, or technical, economies, (2) logic-based institutional arrangements (Hohfeld 1964, Lindahl 1977, Knight & North 1997, Hage 1997) as constraints on behavior, and (3) selection and control of production behaviors compliant with ACT-R in teams and hierarchies. In conjunction with media of exchange, whose function is to ensure discrete partitions and subpartitions, these can define a complete economic system. Cognitive and economic production rules take the form of expressions in a formal mathematical language (Davis, Sigal & Weyuker 1994), with instrumental economies and institutional arrangements playing the role of ‘syntax’, and hierarchically arranged individual goal portfolios the role of ‘semantics’. Productions of an economy expressed in such a ‘language’ underlie row vectors in a Leontief-type input-output table (Leontief 1986)." @default.
- W304082183 created "2016-06-24" @default.
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- W304082183 date "2000-01-01" @default.
- W304082183 modified "2023-09-27" @default.
- W304082183 title "INPUT-OUTPUT PROPERTIES OF AN ALTERNATIVE MATHEMATICAL STRUCTURE FOR THE ANALYSIS OF MARKETS AND INSTITUTIONS" @default.
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