"Selected Models from Economic Mechanics" Yingrui Yang, Department of Cognitive Science

 

"Selected Models from Economic Mechanics" Yingrui Yang, Department of Cognitive Science

Sage 4101

January 29, 2014 12:00 PM - 1:30 PM

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Abstract:

Economic mechanics aims to integrate economics and cognitive science by applying theoretical physics from modeling perspectives. In my talk last year, I briefly introduced the principles and précis of economic mechanics. In the present talk, I will show a number of selected phenomenological models including the QED theoretic model of market, the QCD theoretic model of sub-economic analysis, the weak-force model of economic policy (fiscal or monetary), the special relativistic model of money, and the general relativistic model of economic gravity (by treating Pareto efficiency as geodesics).  These analogical models have the advantage to disclose the group theoretic structure for each model and their unified account. I will also explain why and how to apply gauge field and fiber bundle framework as the meta-modeling tools to integrate cognitive science and economics, namely, to serve as the mathematical foundations of economic mechanics.

The contents of this talk are self-contained, which don’t require any prerequisite and anyone interested can follow.

Reference available at Amazon or RPI Bookstore: Yingrui Yang (2012), Modern principles of economic mechanics: Qualitative initiatives integrating economics, cognitive science, and theoretical physics; Volume I.

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