• ISSN: 2155-7950
  • Journal of Business and Economics

The Church-Turing-Chaitin Thesis in the Behavior of Dynamic Economic Phenomena

Alberto H. Landro, Mirta L. González
(Research Center in Econometrics, University of Buenos Aires, Argentina)

Abstract: Accepting the classical-deterministic-conception implies assuming as an starting point an axiomatic according to which every dynamic economic system can be formalized in the assumption that, in the limit, its behavior obeys a trajectory that is the necessary consequence of the influence of infinite factors that constitute its causal structure and whose mathematical modeling, inevitably incomplete, generates a type of uncertainty comparable to a randomness synonymous with ignorance. On the contrary, the thermodynamic-aleatorist- conception implies replacing the axiom of existence of a trajectory by the assumption of random behavior that may eventually generate certain local regularities at the macroscopic level and, consequently, substitute the classical interpretation of randomness due to ignorance by that of absolute-randomness.

The objective of this paper is to contribute to the solution of the historical question of the fundamentals of the nature of the randomness inherent in the behavior of dynamic economic phenomena trough the formal demonstration of the truth or falsity of the deterministic or aleatorist conceptions using the arguments which provides algorithmic complexity theory and the assimilation of its modeling to the formal field of mathematics.

Key words: dynamic phenomena, aleatorism, determinism, Church-Turing-Chatin thesis, algorithmic complexity

JEL codes: B41, B23, C18

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