[embedded content]Mirowski On Markomata
In the title of this post, I introduce a new technical term.
Consider a Leontief input-output matrix characterizing the technique in use, in physical terms. Suppose n industries
are producing n commodities. If an alternative process is available in one industry, then a problem of the choice
between two techniques arises. If two processes are available in each industry, the choice is among 2n techniques.
If three processes are available in each industry, 3n techniques exist.
Some researchers are quite aware of the challenges posed by combinatorics.
Christian Bidard has what he calls a market algorithm.
I have written a bit about a similar algorithm in
my 2017 Review of Political Economy article.
Masashi Morioka, and