|履修条件||Requirements to join in this lecture are not specified.|
|科目の目的・到達目標||Our society is undergoing a great change. The social ICT(Information and Communication Technology) is rapidly penetrating into the economic order at almost every layer. The modern market system of either the stock exchange or the electronic power exchange of the grid distribution are mainly running by the algorithmic intelligence at millisecond or microsecond basis. In a new system there may not be any room for human decision makings at first. So we must reconstruct a new microscopic view without resort to the subjective decision theory of homo economicus.|
|授業の概要||The traditional microeconomic theory is studying the working of the market economy in view of household and firm sector, whose agents are homogenous. In contrast to the traditional ideas, in our lecture, we argue the next issues.
(1) The human basis of the market system is replaced with the algorithmic basis. The typical example is the HTF (High Frequency Trade). Here human decision is alienated from the market transaction. A new market design in conformity with the new system must be reconsidered.
(2) The traditional attention was much paid to homo economicus. It is well known that the law of demand cannot be derived without making the income effect positive. In order to keep it positive, however, we need to assume the heterogenous consumption patterns among the different income classes. We will also examine the production set to follow some heterogenous combination of technologies.
(3) The game theoretic approach became popular. But even the prisoner's dilemma cannot give a realistic solution. In our daily life, cooperation is often rather preferred. The individualistic solution cannot explain our daily solution. We will look for several selection rules in evolutionary game theory.
|授業計画||1. The nature of technology and the present social complexities
2. The traditional perspective of the relationship between the production function and the cost function (The implicit function theorem and the envelope theorem)
3. Production technology and the meaning of production function in view of Zonotope
4. The notion of individualistic rationality and its historical background
5. The mechanism of the classical commodity exchange
6. The mechanism of the stock exchange in view of the artificial intelligent market simulator
7. The algorithm of a stock price generation
8. The prisoner's dilemma and its evolutionary interpretation
9. The elementary proof of a utility function based on the individualistic preference ordering
10. The derivation of demand function based on an individualistic utility maximisation
11. The multi-nomial logit utility applied to an interpersonal framework
12. The ideas of Pareto optimality, gift transfer on the Edgeworth box diagram
13. An elementary proof of a core allocation (a limit theorem) by coalition formation
14. The theory of heterogenous interaction in view of the theory of duopoly
|評価方法||Two ways for grade the credit:
1. Do a paper on the given subjects.
2. Days attended
|テキスト・参考文献等||Yuji Aruka, Evolutionary Foundations of Economic Science: How Can Scientists Study Evolving Economic Doctrines from the Last Centuries?, Series: Evolutionary Economics and Social Complexity Science, Vol. 1, Springer, November2014, 223pp.
Yuji Aruka, Complexities of Production and Interacting Human Behaviour, Physica Verlag[Springer Heidelberg], April 2011, 272pp.
|授業外の学習活動||The distributed materials brought at lecture should be carefully kept. Each time when lecture is finished, you should make your short comment/opinion to the lecture. You are also recommended to read the textbooks in the above.|