The Myth of Equilibrium and The Myth of Optimization: Outside Natural Sciences: A Graduate Lecture

Amaresh Das

Authors

Amaresh Das

integrality condition, hamiltonian system, ad joint differential equation

Abstract

Both the optimization and equilibrium principles turn out to be more akin to common sense than to science. They have been postulated as describing markets, but lack the required empirical underpinning. Optimization is not a magic cure. In order to particularly circumvent some of the technical obstacles for a control problem , it turns out to be practically effective to reduce the system dynamics to a system of ordinary differential equations of considerably higher dimension, Such an approach might replace a theoretical difficulty by a greatly increased computational problem.

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The Myth of Equilibrium and The Myth of Optimization: Outside Natural Sciences: A Graduate Lecture. (2015). Global Journal of Science Frontier Research, 15(44), 27-32. https://journalofscience.org/index.php/GJSFR/article/view/

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Author Biography

Amaresh Das

Dr. Amaresh Das is an academic researcher affiliated with Southern University at New Orleans and the University of New Orleans. His work spans econometrics, financial time series analysis, and mathematical finance, with notable contributions including studies on Markov switching heteroscedasticity, Kalman filtering, and the Chebyshev inequality. With 35 publications and over 60 citations, his research has been recognized with an h-index of 5 and an i10-index of 2. Dr. Das's scholarly output reflects a deep engagement with both theoretical and applied aspects of economics and finance.

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