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Logic of Choice and Economic Theory$
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S. N. Afriat

Print publication date: 1987

Print ISBN-13: 9780198284611

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198284616.001.0001

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Von Neumann's Economic Model

Von Neumann's Economic Model

(p.348) IV.6 Von Neumann's Economic Model
Logic of Choice and Economic Theory

S. N. Afriat

Oxford University Press

This is the last of six chapters on the logic of price, and expands on the features of von Neumann's economic model, or activity system, which was first mentioned in Chapter IV.1. The fourteen sections of the chapter are: activity system; dual system; irreducibility; admissible factors; factor bounds; limit reciprocity; von Neumann factor; stretch algorithm; matrix games; LP solution; Perron–Frobenius and von Neumann; BASIC program; problems; and demonstrations.

Keywords:   economic models, economic theory, mathematical economics, Perron–Frobenius theorem, price, von Neumann's activity system, von Neumann's model

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