# Abstract economy

In theoretical economics, an abstract economy (also called a generalized N-person game) is a model that generalizes both the standard model of an exchange economy in microeconomics, and the standard model of a game in game theory. An equilibrium in an abstract economy generalizes both a Walrasian equilibrium in microeconomics, and a Nash equilibrium in game-theory. The concept was introduced by Gérard Debreu in 1952. He named it generalized N-person game, and proved the existence of equilibrium in this game. Later, Debreu and Kenneth Arrow (who renamed the concept to abstract economy) used this existence result to prove the existence of a Walrasian equilibrium (aka competitive equilibrium) in the Arrow–Debreu model. Later, Shafer and Sonnenschein extended both theorems to irrational agents - agents with non-transitive and non-complete preferences. (Wikipedia).

Field Definition (expanded) - Abstract Algebra

The field is one of the key objects you will learn about in abstract algebra. Fields generalize the real numbers and complex numbers. They are sets with two operations that come with all the features you could wish for: commutativity, inverses, identities, associativity, and more. They

From playlist Abstract Algebra

Quotient group example

Now that we know what a quotient group is, let's take a look at an example to cement our understanding of the concepts involved.

From playlist Abstract algebra

Group Definition (expanded) - Abstract Algebra

The group is the most fundamental object you will study in abstract algebra. Groups generalize a wide variety of mathematical sets: the integers, symmetries of shapes, modular arithmetic, NxM matrices, and much more. After learning about groups in detail, you will then be ready to contin

From playlist Abstract Algebra

10 Relations (still with the not-so-exciting-stuff)

This video introduces relations between pairs of elements.

From playlist Abstract algebra

16 You have made it to the first exciting video Operations

To be honest, the topics have been very dry up to now. Here is the first bit of excitement. Operations. Understanding operations is a fundamental priority in abstract algebra.

From playlist Abstract algebra

Equivalence Relations Definition and Examples

Please Subscribe here, thank you!!! https://goo.gl/JQ8Nys Equivalence Relations Definition and Examples. This video starts by defining a relation, reflexive relation, symmetric relation, transitive relation, and then an equivalence relation. Several examples are given.

From playlist Abstract Algebra

What is Abstract Algebra? (Modern Algebra)

Abstract Algebra is very different than the algebra most people study in high school. This math subject focuses on abstract structures with names like groups, rings, fields and modules. These structures have applications in many areas of mathematics, and are being used more and more in t

From playlist Abstract Algebra

Abstract Algebra: The definition of a Field

Learn the definition of a Field, one of the central objects in abstract algebra. We give several familiar examples and a more unusual example. ♦♦♦♦♦♦♦♦♦♦ Ways to support our channel: ► Join our Patreon : https://www.patreon.com/socratica ► Make a one-time PayPal donation: https://www

From playlist Abstract Algebra

Definition of a group Lesson 24

In this video we take our first look at the definition of a group. It is basically a set of elements and the operation defined on them. If this set of elements and the operation defined on them obey the properties of closure and associativity, and if one of the elements is the identity el

From playlist Abstract algebra

OSB 2015 - Funding for Open Source Projects: Is a Universal Basic Income the Solution?

By, Luc Perkins Contributing to open-source projects without worrying about making a living? What sounds like a dream could become a reality with the institution of an economic concept called basic income. The idea is currently being debated in numerous countries. This talk will introduce

From playlist Open Source Bridge 2015

Karl Marx’s Monetary Theory of Value

Michael Heinrich is a former collaborator of Marx-Engels-Gesamtausgabe (MEGA) and was, until 2016, Professor of Economics at HTW Berlin. He is the author of An Introduction to the Three Volumes of Karl Marx's “Capital” (2012) and Karl Marx and the Birth of Modern Society (2019).

From playlist Whitney Humanities Center

Online Companies Like Facebook Have Created a Meaningless Economy, says Douglas Rushkoff| Big Think

Online Companies Like Facebook Have Created a Meaningless Economy, Watch the newest video from Big Think: https://bigth.ink/NewVideo Join Big Think Edge for exclusive videos: https://bigth.ink/Edge ---------------------------------------------------------------------------------- Online b

From playlist Best Videos | Big Think

Lecture 1: Economic Science

MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 Instructor: Prof. Robert Townsend View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/ YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF Prof

Research Working Session: Tuesday, June 21, 2022 [Multicomputation]

This a research session on Multicomputation and Economic Modeling. If you'd like to contribute to the discussion in future episodes, you can participate through this YouTube channel or through the official Twitch channel of Stephen Wolfram here: https://www.twitch.tv/stephen_wolfram/ Fo

From playlist Science and Research Livestreams

A conversation between Fred Meinberg and Stephen Wolfram at the Wolfram Summer School 2021

Stephen Wolfram plays the role of Salonnière in this new, on-going series of intellectual explorations with special guests. Watch all of the conversations here: https://wolfr.am/youtube-sw-conversations Follow us on our official social media channels. Twitter: https://twitter.com/Wolfram

From playlist Conversations with Special Guests

What The Heck Is GDP?

GDP, GNP – what does it all mean? Jonathan explains what economists mean when they bring up these common economic indicators. Learn more at HowStuffWorks.com: http://money.howstuffworks.com/gross-national-happiness.htm Share on Facebook: Share on Twitter: Subscribe: http://goo.gl/ZYI7G

From playlist Everyday Stuff

Disruption - Seminar 25 - AGI access as the coin of the realm

A seminar series on the science of disruption in technology organised by Adam Dorr. This week we discuss a recent interview with Sam Altman, CEO of OpenAI (https://youtube.com/clip/UgkxqnDwH5YNOH5LhH__CLIVs9wlj1HBuDjH), in which he discusses the marginal cost of intelligence and energy goi

From playlist Disruption seminar

Reconciling Subjectivity & Substance: Hegel's Critique of Pure Personhood

This is a talk given by Jonathan Hand in 2019 at St. John's college. #Philosophy #Hegel

From playlist Hegel

Capital, a Book of Labor

Lucia Pradella is Senior Lecturer in International Political Economy at King’s College London. She holds a PhD in philosophy from the University of Naples Federico II and Paris 10 Nanterre. She collaborated on the historical-critical edition of Marx’s and Engels’s complete works at the Ber

From playlist Whitney Humanities Center