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Notes on a 'Constructive Proof of the Existence of a Collateral Equilibrium'

Venkatachalam, Ragupathy and Kumaraswamy, Velupillai Vela. 2016. Notes on a 'Constructive Proof of the Existence of a Collateral Equilibrium'. Computational Economics, 48(1), pp. 179-181. ISSN 0927-7099 [Article]

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Abstract or Description

In an interesting article in this journal, Ma (Comput Econ 45:1–30, 2015), claims that a constructive proof of existence of a Collateral Equilibrium (with a Leontief utility function) is provided in the paper. Moreover, there is also the additional claim that ‘on the basis of this proof, we can (and we shall) develop an algorithm for computing that equilibrium’ (ibid, p. 1). Thirdly, the statements that ‘the algorithm is shown by simulation to be effective’, and its effectiveness is demonstrated by ‘the accuracy of the equilibrium it provided’. These claims are, from a recursion theoretic (or computability theory) point of view, meaningless.

Item Type:

Article

Identification Number (DOI):

https://doi.org/10.1007/s10614-015-9504-9

Keywords:

Proof, Constructive, Effective, Existence

Departments, Centres and Research Units:

Institute of Management Studies

Dates:

DateEvent
1 June 2016Published
1 May 2015Accepted

Item ID:

19495

Date Deposited:

10 Jan 2017 10:23

Last Modified:

15 Jul 2018 05:16

Peer Reviewed:

Yes, this version has been peer-reviewed.

URI:

http://research.gold.ac.uk/id/eprint/19495

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