TY - JOUR
T1 - Notes on a ‘Constructive Proof of the Existence of a Collateral Equilibrium’
AU - Ragupathy, Venkatachalam
AU - Velupillai, K. Vela
N1 - Publisher Copyright:
© 2015, Springer Science+Business Media New York.
PY - 2016/6/1
Y1 - 2016/6/1
N2 - 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.
AB - 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.
KW - Constructive
KW - Effective
KW - Existence
KW - Proof
UR - http://www.scopus.com/inward/record.url?scp=84930531945&partnerID=8YFLogxK
U2 - 10.1007/s10614-015-9504-9
DO - 10.1007/s10614-015-9504-9
M3 - Article
AN - SCOPUS:84930531945
SN - 0927-7099
VL - 48
SP - 179
EP - 181
JO - Computational Economics
JF - Computational Economics
IS - 1
ER -