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Date: | Fri Mar 31 17:18:42 2006 |
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----------------- HES POSTING -----------------
Mircea Pauca,
Sorry to be so tardy in getting back to you. Perhaps we should move further
the discussion off the HES site. My university email is
[log in to unmask]
However, in case other might be interested, I will respond briefly to your
posting.
> I have read with interest that 'control theory' can be
> used as a basis for values or prices !
In many cases exhanging the algorethm of maximization for a control theory
conception of agency allows the construction of a system that is close to,
but not identical to standard economic analysis. But, the control
algorethm can also account for some important anomolous cases such as the
Giffen paradox, and the backward bending labor offer curve.
Various versions of control theory could be used, but I mostly use Euler's
method plus an integration term. My goal is a comprehensive redescription
of economic analysis in control theory terms. The discussions under the
caption "cybernetics" are mostly an embarassment.
However, the work of William T. Powers _Behavior: the Control of
Perception_ has been extremely helpful.
Powers work influenced Glasser's book _Stations of the Mind_, Since then
Powers' influence upon Glasser's work has markedly declined.
Bill Williams
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