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Most of the advanced math in economics in current research is either in econometrics or game theory. Not saying econ is math-less, far from it, but most of the
by VHRanger 10y ago
Most of the advanced math in economics in current research is either in econometrics or game theory. Not saying econ is math-less, far from it, but most of the time we can't simply solve our problems by applying advanced math like physics can.
Equilibrium concepts in game theory are a tough thing. The holy grail is still getting a unifying concept of a "stable equilibrium" (see Kohlber & Mertens '86) which is pretty much a guaranteed Nobel (but I'm not sure it even exists, so many geniuses worked on the problem without success).