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Symmetry and economic invariance / Ryuzo Sato and Rama V. Ramachandran.

By: Sato, Ryuzo.
Contributor(s): Ramachandran, Rama V.
Material type: TextTextSeries: Advances in Japanese business and economics ; 1.Publisher: New York : Springer, 2014Edition: 2nd enhanced ed.Description: xi, 273 p. ; illustrations.ISBN: 9784431544296 (hard cover : alk. paper).Subject(s): Mathematical Economics | Group theory | Lie groupsDDC classification: 330.0151
Contents:
1. Introduction-- 2. Technical progress and economies of scale: concept of holotheticity-- 3. Holothetic production functions and marginal rate of technical substitution-- 4. Utility and demand-- 5. Duality and self duality-- 6. The theory of index numbers-- 7. Dynamics and conservation laws-- 8. The invariance principle and income-wealth conservation laws-- 9. Conservation laws in continuous and discrete models-- 10. Quantity or quality: the impact of labour saving innovation on US and Japanese growth rates, 1960-2004-- 11. A survey on recent developments-- 12. Appendix to part II symmetry: an overview of geometric methods in economics-- References-- Index.
Summary: Symmetry and Economic Invariance: An Introduction explores how symmetry and invariance of economic models can provide insights into their properties. While the professional economist is nowadays adept at many of the mathematical techniques used in static and dynamic optimization models, group theory is still not among his or her repertoire of tools. The authors aim to show that group theoretic methods form a natural extension of the techniques commonly used in economics and that they can be easily mastered.
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Item type Current location Call number Status Date due Barcode Item holds
Books Books ISI Library, Kolkata
 
330.0151 Sa253 (Browse shelf) Available 135669
Total holds: 0

Includes bibliographical references and index.

1. Introduction--
2. Technical progress and economies of scale: concept of holotheticity--
3. Holothetic production functions and marginal rate of technical substitution--
4. Utility and demand--
5. Duality and self duality--
6. The theory of index numbers--
7. Dynamics and conservation laws--
8. The invariance principle and income-wealth conservation laws--
9. Conservation laws in continuous and discrete models--
10. Quantity or quality: the impact of labour saving innovation on US and Japanese growth rates, 1960-2004--
11. A survey on recent developments--
12. Appendix to part II symmetry: an overview of geometric methods in economics--
References--
Index.

Symmetry and Economic Invariance: An Introduction explores how symmetry and invariance of economic models can provide insights into their properties. While the professional economist is nowadays adept at many of the mathematical techniques used in static and dynamic optimization models, group theory is still not among his or her repertoire of tools. The authors aim to show that group theoretic methods form a natural extension of the techniques commonly used in economics and that they can be easily mastered.

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