Applied general equilibrium
id:
applied-general-equilibrium-0-4754918
title:
Applied general equilibrium
text:
In mathematical economics, applied general equilibrium (AGE) models were pioneered by Herbert Scarf at Yale University in 1967, in two papers, and a follow-up book with Terje Hansen in 1973, with the aim of empirically estimating the Arrow–Debreu model of general equilibrium theory with empirical data, to provide "“a general method for the explicit numerical solution of the neoclassical model”
(Scarf with Hansen 1973: 1) Scarf's method iterated a sequence of simplicial subdivisions which would g
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wiki
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encyclopedia
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https://en.wikipedia.org/wiki/Applied_general_equilibrium
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date modified:
2021-12-28T23:10:02Z
main entity:
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13
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