Analog Computing Simulations and the Production of Theoretical Evidence in Economic Dynamics
Year: 2020
Type: article
Abstract: This article intends to bring wider attention to the implementation of the electro-analog simulation technique in economic dynamics during the 1950s and the early 1960s. The paper first discusses the main characteristics of the approach. Then, it focusses on some economic applications in the theory of spatially separated markets, inventory dynamics and Goodwin’s nonlinear accelerator business cycles model. Despite several consubstantial shortcomings, we argue that this approach contributed to the production of original theoretical evidence in economic dynamics before the generalization of the use of digital computers.
Source: OEconomia
Author: Alain Raybaut
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W3046991774