Constructive and Classical Models for Results in Economics and Game Theory

14 Pages Posted: 4 Jul 2004

See all articles by Kislaya Prasad

Kislaya Prasad

Florida State University - Department of Economics

Abstract

A standard approach in economic theory is to use a formal language to prove results about an economy or a game. In this paper, model theory is used to examine interpretations of such results. The particular focus is on constructive theorems, since results established by constructive methods are valid for many different interpretations, whereas classical theorems are valid more narrowly. I discuss why non-classical models may be of interest and also describe applications of model theory to economics in classical contexts, e.g. non-standard analysis. The paper advocates a viewpoint suggesting that constructive models are tools for studying worlds in which agents' knowledge of the world is incomplete.

Suggested Citation

Prasad, Kislaya, Constructive and Classical Models for Results in Economics and Game Theory. Available at SSRN: https://ssrn.com/abstract=551211

Kislaya Prasad (Contact Author)

Florida State University - Department of Economics ( email )

Tallahassee, FL 30306-2180
United States

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