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This not only makes the formulas more concise and clear but also facilitates the use of analytical tools from linear algebra and matrix theory. The John von Neumann's general equilibrium model and the structural equilibrium model are examples of matrix-form CGE models, which can be viewed as generalizations of eigenequations.
The structural equilibrium model is a matrix-form computable general equilibrium model in new structural economics. [30] [31] This model is an extension of the John von Neumann's general equilibrium model (see Computable general equilibrium for details). Its computation can be performed using the R package GE.
Partial equilibrium, the equilibrium price and quantity which come from the cross of supply and demand in a competitive market; Radner equilibrium, an economic concept defined by economist Roy Radner in the context of general equilibrium; Recursive competitive equilibrium, an economic equilibrium concept associated with a dynamic program
Dynamic stochastic general equilibrium modeling (abbreviated as DSGE, or DGE, or sometimes SDGE) is a macroeconomic method which is often employed by monetary and fiscal authorities for policy analysis, explaining historical time-series data, as well as future forecasting purposes. [1]
In mathematical economics, the Arrow–Debreu model is a theoretical general equilibrium model. It posits that under certain economic assumptions ( convex preferences , perfect competition , and demand independence), there must be a set of prices such that aggregate supplies will equal aggregate demands for every commodity in the economy.
Creating a cellular model has been a particularly challenging task of systems biology and mathematical biology. It involves the use of computer simulations of the many cellular subsystems such as the networks of metabolites , enzymes which comprise metabolism and transcription , translation , regulation and induction of gene regulatory networks.
A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.
Computable model theory is a branch of model theory which deals with questions of computability as they apply to model-theoretical structures. Computable model theory introduces the ideas of computable and decidable models and theories and one of the basic problems is discovering whether or not computable or decidable models fulfilling certain model-theoretic conditions can be shown to exist.