Abstract
This chapter surveys the results in general equilibrium theory based on dynamical models, and emphasizes the role of structural stability. In this context it is natural to consider a preference field H for the society, combining economic fields, associated with the preferred changes wrought by agents in the economic market place, together with fields of preferred changes in the polity. A preference field specifies at each point \( x\in \) the space of states, X, a set of feasible vectors of change. A condition called half-openness of H is sufficient to guarantee existence of a local direction gradient, d, for the society, and thus of a social choice. when half openness fails then the dynamical system so defined can be chaotic. We apply some of these abstract ideas to the question of dealing with climate change.
This chapter is based on work supported by NSF grant 0715929.
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- 1.
- 2.
See the discussion in Schofield (2011).
- 3.
- 4.
- 5.
The theory of chaos or complexity is rooted in Smale’s fundamental theorem (Smale 1966) that structural stability of dynamical systems is not “generic” or typical whenever the state space has more than two dimensions.
- 6.
In their early analysis of chaos, Li and Yorke (1975) showed that in the domain of a chaotic transformation \(f\) it was possible for almost any pair of positions \((x,y)\) to transition from \(x\) to \(y=f^{r}(x),\) where \(f^{r}\) means the \(r\) times reiteration of \(f.\)
- 7.
- 8.
- 9.
The response by the citizens of these countries to the demise of Osama bin Laden on May 2, 2011, is in large degree also unpredictable.
- 10.
- 11.
Golub and Jackson (2010).
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See also Acemoglu and Robinson (2008).
- 14.
The popular protests in N.Africa and the Middle East in 2011 were in opposition to oligarchic and autocratic power.
- 15.
See also Shafer and Sonnenschein (1975).
- 16.
In other words, there exists \(d\) such that \(d(v)>0\) for all \(v\in H(x)\subset T_{x}W\), whenever \(H(x)\ne \Upphi .\)
- 17.
That is a critical Nash equilibrium which is an attractor of the integral curves.
- 18.
- 19.
- 20.
- 21.
- 22.
- 23.
- 24.
- 25.
See Maynard Smith (1982) for the game theoretic notion of evolutionary stable strategy.
- 26.
Indeed as I understand the dynamical models, the chaotic episodes are due to the complex interactions of dynamical processes in the oceans, on the land, in weather, and in the heavens. These are very like interlinked coalitions of non-gradient vector fields.
- 27.
- 28.
This depends on the extension of Michael’s selection theorem by Mas-Colell (1979).
- 29.
It is bounded by median arcs such as \((M_{1},M_{2}).\)
- 30.
- 31.
I use this as a metaphor derived from the notion of inflation in cosmology (Penrose 2011). If we can use the term entropy to characterise the distribution of events in the heart, then entropy increases dramatically at the inflationary point.
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Schofield, N. (2013). Coalitions and Catastrophic Climate Change. In: Holler, M., Nurmi, H. (eds) Power, Voting, and Voting Power: 30 Years After. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-35929-3_39
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