On the Existence of Evolutionary Learning Equilibriums

• Main Author: Masudul Alam Choudhury
• Format: Article
• Language: English
• Published: Sultan Qaboos University 2011-12-01
• Series: Sultan Qaboos University Journal for Science
• Subjects: Economic theory; Mathematical economics; Evolutionary economics; Economics and epistemology.
• Online Access: https://journals.squ.edu.om/index.php/squjs/article/view/377

The usual kinds of Fixed-Point Theorems formalized on the existence of competitive equilibrium that explain much of economic theory at the core of economics can operate only on bounded and closed sets with convex mappings. But these conditions are hardly true of the real world of economic and financial complexities and perturbations. The category of learning sets explained by continuous fields of interactive, integrative and evolutionary behaviour caused by dynamic preferences at the individual and institutional and social levels cannot maintain the assumption of closed, bounded and convex sets. Thus learning sets and multi-system inter-temporal relations explained by pervasive complementarities and  participation between variables and entities, and evolution by learning, have evolutionary equilibriums. Such a study requires a new methodological approach. This paper formalizes such a methodology for evolutionary equilibriums in learning spaces. It briefly points out the universality of learning equilibriums in all mathematical structures. For a particular case though, the inter-systemic interdependence between sustainable development and ethics and economics in the specific understanding of learning domain is pointed out.