Balanced growth with von Neumann technology

The year 2003 marked the 100th anniversary of the birth of John von Neumann (1903–1957), one of greatest geniuses of the last century. Beyond contributing to fields as diverse as set theory, quantum mechanics, atomic energy, and automatic computing, von Neumann has also had a decisive influence upon modern economics. From the invention of game theory to the axiomatization of expected utility, from the introduction of convex analysis and fixed-point techniques to the development of the balanced growth model, the von Neumann heritage can be clearly traced in several areas of our discipline. The aim of this paper is to clarify the relationship between the two concepts of rationality he devised in his classic 1944 book Theory of Games and Economic Behavior, written with the collaboration of the Austrian economist Oskar Morgenstern (von Neumann and Morgenstern 1953).

Two Algorithms for Computing the Von Neumann Balanced Growth Rate

Econometrica ◽

10.2307/1912973 ◽

1972 ◽

Vol 40 (4) ◽

pp. 767

Author(s):

Roman L. Weil

Keyword(s):

Growth Rate ◽

Von Neumann ◽

Balanced Growth

An Optimal Lower Eigenvalue System

Abstract and Applied Analysis ◽

10.1155/2011/208624 ◽

2011 ◽

Vol 2011 ◽

pp. 1-20

Author(s):

Yingfan Liu

Keyword(s):

Growth Factors ◽

Lipschitz Continuity ◽

Optimal Growth ◽

Lower Eigenvalue ◽

Input Output ◽

Von Neumann ◽

Balanced Growth ◽

Continuity Result ◽

Neumann Type ◽

Eigenvalue System

An optimal lower eigenvalue system is studied, and main theorems including a series of necessary and suffcient conditions concerning existence and a Lipschitz continuity result concerning stability are obtained. As applications, solvability results to some von-Neumann-type input-output inequalities, growth, and optimal growth factors, as well as Leontief-type balanced and optimal balanced growth paths, are also gotten.

An Algorithm for Computing the von Neumann Balanced Growth Path

Econometrica ◽

10.2307/1912972 ◽

1972 ◽

Vol 40 (4) ◽

pp. 763

Author(s):

Deb Kumar Bose ◽

Sanjit Bose

Keyword(s):

Growth Path ◽

Von Neumann ◽

Balanced Growth ◽

Balanced Growth Path

Balanced growth in a modified von Neumann model

Zeitschrift für Nationalökonomie ◽

10.1007/bf01320710 ◽

1964 ◽

Vol 24 (4) ◽

pp. 365-370

Author(s):

Wahidul Haque

Keyword(s):

Von Neumann ◽

Balanced Growth ◽

Neumann Model

Workability of Generalized Von Neumann Models of Balanced Growth

Equilibrium, Stability and Growth ◽

10.1093/0198281455.003.0005 ◽

1963 ◽

pp. 131-153

Author(s):

Michio Morishima

Keyword(s):

Von Neumann ◽

Balanced Growth

Lectures on von Neumann Algebras

10.1017/9781108654975 ◽

2019 ◽

Author(s):

Serban-Valentin Stratila ◽

Laszlo Zsido

Keyword(s):

Von Neumann Algebras ◽

Von Neumann

Von Neumann, Morgenstern, and the Creation of Game Theory

10.1017/cbo9780511778278 ◽

2010 ◽

Cited By ~ 73

Author(s):

Robert Leonard

Keyword(s):

Game Theory ◽

Von Neumann ◽

The Creation

Russian Banking Sector under World Financial Market Uncertainty: Problems and Prospects

Voprosy Ekonomiki ◽

10.32609/0042-8736-2008-3-4-19 ◽

2008 ◽

pp. 4-19 ◽

Cited By ~ 1

Author(s):

A. Ulyukaev ◽

E. Danilova

Keyword(s):

Emerging Markets ◽

Financial Market ◽

Banking Sector ◽

Financial System ◽

Local Market ◽

Market Uncertainty ◽

Balanced Growth ◽

Banking Sector Development ◽

The World ◽

The Usa

The authors point out that the local market crisis - on the USA substandard loan market - has led to the uncertainty of the world financial market. It has caused the growing demand for liquidity in the framework of the world financial system. The Russian banking sector seems to be more stable under negative changes than banking systems of other emerging markets. At the same time one can assume that the crisis will become the factor of qualitative shift in the character of the Russian banking sector development - the shift from impetuous to more balanced growth.

John von Neumann

Uspekhi Fizicheskih Nauk ◽

10.3367/ufnr.0174.200412h.1371 ◽

2004 ◽

Vol 174 (12) ◽

pp. 1371 ◽

Cited By ~ 1

Author(s):

Mikhail I. Monastyrskii

Keyword(s):

John Von Neumann ◽

Von Neumann