Constructive and computable Hahn-Banach theorems for the (second) fundamental theorem of welfare economics. (English) Zbl 1308.91104
Summary: The Hahn-Banach Theorem plays a crucial role in the second fundamental theorem of welfare economics. To date, all mathematical economics and advanced general equilibrium textbooks concentrate on using non-constructive or incomputable versions of this celebrated theorem. In this paper we argue for the introduction of constructive or computable Hahn-Banach theorems in mathematical economics and advanced general equilibrium theory. The suggested modification would make applied and policy-oriented economics intrinsically computational.
MSC:
| 91B50 | General equilibrium theory |
| 91B15 | Welfare economics |
| 46B25 | Classical Banach spaces in the general theory |
| 03F60 | Constructive and recursive analysis |
| 03H10 | Other applications of nonstandard models (economics, physics, etc.) |
Keywords:
fundamental theorems of welfare economics; Hahn-Banach theorem; constructive analysis; computable analysisReferences:
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