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Hi, I'm an undergraduate student studying mathematics. My topology course teacher has given me an assignment on the application of topology on econometrics. He said he's not gonna tell me anything about econometrics (I don't have that in my syllabus), I'll have to do it on my own.
So can u tell me why exactly topology is read in the study of econometrics???
My best guess is looking at price change functions and fixed point theorems. This is however more micro-theory than anything. However, metric spaces might be very useful to derive the Ordinary least squares. But again, this is more statistics than econometrics
Just my 2 cents
Quote:
Originally Posted by Mohit
Try researching applications of differential topology and global analysis to the theory of general economic equilibrium. You might look at the work of Gerard Debreu and Andreu Mas-Colell.Quote:
Originally Posted by Mohit
Economists rarely use topology directly, but it is implicit in many applications.Economists are rarely conscious they are studying topology, rather they have tools that are usually detached from the mathematical origins. You can solve stochastic differential equations without really thinking about the underlying limit theory, for example, and never care your entire life about it either, as long as it works.
We use topology in a number of other ways, but I suspect if you asked most economists they would have no clue they were using it and no clue that a field called topology existed.
cuboid