Yoshinori Shiozawa

Yoshinori Shiozawa
Osaka City University | OCU · Graduate School for Creative Cities

Bachelor of Science, Master of Science (Mathematical Analysis), Diolôme d'Etudes Approfondies

About

81
Publications
170,762
Reads
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476
Citations
Introduction
I am an independent researcher after having worked for three universities. I have been interested in real economy but now interested in financial economy too. I am critical to the neoclassical value theory and contending to construct a new value theory based on the tradition of classical value theories. My international value theory is a part of my whole project. It is constructed on a very wide assumption and a unique general theory in the tradition of Ricardo and Sraffa.
Additional affiliations
April 2008 - March 2014
Chuo University
Position
  • Professor (Full)
April 2007 - present
Osaka City University
Position
  • Professor Emeritus
April 2003 - March 2007
Osaka City University
Position
  • Professor
Education
October 1970 - June 1971
University of Nice Sophia Antipolis
Field of study
  • Mathémtiaques
April 1966 - March 1968
Kyoto University
Field of study
  • Mathematical analyis
April 1962 - March 1966
Kyoto University
Field of study
  • Mathematics

Publications

Publications (81)
Article
Full-text available
Technological evolution is widely thought to be the primary process that brings about economic growth. It is one of the main targets of evolutionary economics, but how technological change induces economic growth has remained unexplained. Based on the new theory of value, this paper explains how technological change leads to long-run improvement in...
Article
(An open sourced paper. Please crick the DOI.) This paper provides a new formulation for the principle of effective demand. With this new formulation, the principle boils down to a specific behavior of producer firms (and sellers). After giving new definitions in Section 2, the main part of this paper (Section 3), based on the study by Shiozawa, Mo...
Conference Paper
Full-text available
Contents 1. Introduction 2. Classical theory of value 3. Neoclassical revolution 4. Neoclassical vs. Classical 5. Further challenges 6. Conclusion See also (1) Power Point Presentation and (2) the First Draft of the Full Paper. Abstract Economics has a responsibility to the actual state of economy, even if it is a small and indirect one. In...
Chapter
This chapter is a general introduction of the new theory of international values, which is an extension of the cost-of-production theory of value to the international trade situations. Within a general framework comprising input trade and choice of production techniques, the new theory analyzes the international values (i.e., the system that consis...
Book
Full-text available
(First paragraph of the Preface) This book explicitly provides microfoundations of evolutionary economics that have been absent thus far in evolutionary economics. The evolutionary economics continued to criticize mainstream neoclassical economics as insufficient framework of analysis, but it had no other choice than to use ideas and analytical too...
Article
The question of how prices and quantities interact and decisions and activities of large numbers of agents are coordinated in market economies has been a major theme in systematic economic investigations since their very inception at the time of French, British and Italian scholars in the seventeenth and eighteenth century. Adam Smith's analysis of...
Technical Report
Full-text available
This is a comment added to Susumu Takenaga's paper Ricardo's Theory on Foreign Trade https://www.researchgate.net/publication/352297094_Ricardo's_theory_on_foreign_trade As italic and bold styles are not usable there, it may not be very readable. I reproduce it here as my private report. As the title tells, this explains quickly how various papers...
Preprint
Full-text available
This is an e-mail I sent on March 8, 2021, to Professor Richard Lipsey in response to his e-mail on February 27, 2021. Before the e-mail, I had sent him the PDF of my paper A New Framework for Analyzing Technological Change (Journal of Evolutionary Economics 30: 989-1034, 2020), in the Abstract of which I stated “Technological evolution is widely t...
Presentation
Full-text available
Abstract and references are given in the first comment to this presentation.
Chapter
In this chapter, we will describe the basic framework and some key concepts of the economic theory of quantity adjustment. Section 3.1 characterizes the capitalist system as a demand-constrained economy in which firms are almost always competing to capture the demand for their products. This aspect of capitalism has a profound relevance with the lo...
Chapter
An evolutionary point of view is the best way to understand the economy and its development. This is the central dogma of evolutionary economics. In this chapter on the foundations of evolutionary economics, we discuss (1) why this dogma is supportable, (2) why most of economic entities evolve, (3) what are the defects of standard (or neoclassical)...
Chapter
Based on the idea of basic separation of price and quantity adjustments, this chapter presents a new picture on how an economy as big as the world ordinarily works by the actions of agents whose capability is limited in rationality, sight, and actions. The first part (Sects. 2.2, 2.3, 2.4, 2.5, and 2.6) is devoted to showing why prices of industria...
Chapter
In this chapter, we will extend the model of the quantity adjustment process presented in Chap. 4 in several directions. Section 5.1 examines the models considering work-in-process inventory, partial adjustment of production volume, and heterogeneity of firms within a sector. It will be shown that, under certain conditions, the stability conditions...
Chapter
In this chapter, we shall analyze a family of multi-sector dynamic models of the quantity adjustment process in which firms determine their productions and raw material orders based on inventories and demand forecasts under constant prices and final demands. Special attention is paid to the role of demand forecast by a moving average of past demand...
Data
This is a part of my comment I added to our paper The Nature of International Competition among Firms coauthored by Takahiro Fujimoto and me. As I had no means to attach PDF file to my comment, I uploaded this supplementary explanation as a data.
Preprint
Full-text available
Although many economists have appealed, after 2007-08 financial crisis, to change economics based on maximization-cum-equilibrium framework, the way out is not yet seen. However, it is clear that a superficial change or addendum of neoclassical theory will not be sufficient. On this occasion, a paradigm change from very basis of theory of prices (o...
Conference Paper
Based on his forthcoming book co-authored with M. Morioka and K. Taniguchi, Shiozawa reports how a modern version of the classical theory of value (i.e. Ricardo’s cost-of-production theory of value) provides analytical framework for evolutionary economics. Its basic tenet is the fundamental separation of price and quantity adjustments. This is in s...
Presentation
Full-text available
Based on his forthcoming book co-authored with M. Morioka and K. Taniguchi, Shiozawa reports how a modern version of the classical theory of value (i.e. Ricardo’s cost-of-production theory of value) provides analytical framework for evolutionary economics. Its basic tenet is the fundamental separation of price and quantity adjustments. This is in s...
Article
Ricardian trade theory has accumulated many misunderstandings. The situation changed much recently due to the new interpretation of “four magic numbers” and the arrival of a new theory of international values. The new theory of international values, which stands on Ricardian tradition, is constructed on a very wide assumption that firms freely trad...
Chapter
Product variety is a crucial dimension for successful management. While numerous papers deal with this subject, few provide insights into estimating optimal product variety in a concrete situation. Their results are much too sensitive to the assumptions, and their conclusions are often contradictory. This chapter presents a new method to estimate o...
Chapter
International competition among firms and units of a multinational enterprise is a game with wage rates as handicaps. This simple truth is commonly known among managers of firms competing in the international arena. Although it is instinctively trivial and evident, this image of international competition is quite different from the traditional comp...
Data
This is an addendum to my working paper: Sraffa's research program is progressing. I an sorry, however, this is filed in a form not very to view. I tried to change the type of the research but I could not. In the working paper, I presented how I an viewing the progress of Sraffa's research program. In this addendum, I cited a paragraph of Richard...
Article
Masahiko Aoki is known in the English-speaking world as a creator and founder of comparative institutional analysis. However, Masahiko Aoki’s interests changed several times. As he himself recalled in his autobiography, Aoki made in his life seven intellectual ventures in five different fields. In this paper, I would like to address a more little-k...
Book
The classical theory of value is characterized as value determined by productioncosts. Ricardo based many of his propositions (propositions on distribution, taxation, and dynamics) on the labor theory of value, a special form of the production cost theory of value. He was aware of difficulties with the labor theory, but did not find a consistent fo...
Chapter
The neoclassical revolution was a shift from economics of production to economics of exchange. The study shows from an internalist point of view that one of the origins of the neoclassical revolution can be traced back to young John Stuart Mill, who tried to sort out a problem left unresolved by David Ricardo. Due to a peculiar reason that I would...
Data
This is a comment on D'Orlando and Sergio Nisticó's paper: On the Inconsistence between the Long-period Method and the Assumption of Given Quantities. This paper raises an extremely important question. The future of post-Sraffa economics depends on it. Long-period interpretation comprises two major weaknesses: (1) No good relevance with real econom...
Chapter
Agent-based simulation brings a host of possibilities for the future of economics. It provides a new analytical tool for both economics and mathematics. For a century and a half, mathematics has been the major tool of theoretical analysis in economics. It has provided economics with logic and precision, but economics is now suffering; economics in...
Working Paper
Full-text available
This chapter is a general introduction of the new theory of international values, which is an extension of the cost-of-production theory of value to the international trade situations. Within a general framework comprising input trade and choice of production techniques, the new theory analyzes the international values (i.e., the system that consis...
Presentation
Full-text available
A few people imagined that a new theory of international values emerges about 200 years after Ricardo’s Principles. The talk starts from the new interpretation of Ricardo’s four magic numbers. After a brief account of the new theory, it extends to some of its consequences. They include topics like global supply chains, fragmentation of production p...
Presentation
Full-text available
An invited lecture given at the Hausdorff School. The presentation gives how the subtropical geometry (convex geometry based on min-time semi-ring) can be used in the analysis of Ricardian trade theory. Main results are reported in Shiozawa (2012) Subtropical convex geometry as the Ricardian theory of international trade, in RG, and Shiozawa (2015a...
Working Paper
Full-text available
This is the first draft of the first chapter of the book we are planning to publish in 2018, which has the same title of the chapter. The second chapter will be titled as "A large economic system with minimally rational agents." Chapters from 3 to 8 will be written by Masashi Morioka and Kazuhisa Taniguchi. In this first chapter I have tried to el...
Conference Paper
Full-text available
The years near to the bicentenary of the Ricardo's Principles (1817) see two radical changes around the law of comparative costs. One is the rediscovery of the true meaning of Ricardo's four magic numbers and its impact on the history of international trade theory. The other is the construction of a new theory of international values as an extensio...
Presentation
Full-text available
A comment to Faccarello’s lecture ”David Ricardo’s Theory of International Trade”
Chapter
When we talk about classical economics, we normally include almost all contentions proposed by economists from the days of classical economics. ... There were many disputes among them, and so it is out of question to think of classical economics as any consistent, cohesive system. / If classical economics is to be something that gives us hints for...
Conference Paper
Full-text available
The Ricardian theory of international trade is one of the oldest theories in economics. Nonetheless, it is by no means trivial and continues to attract curiosity of many modern economists. The subtropical geometry is just a tropical geometry based on min-times or max-times semi-rings. A set of wage rate vectors and a set of price vectors, when rest...
Article
Full-text available
A paper published in Evolutionary Institutional Economics Review (2015) 12:177–212. This study introduces a new crossover between economics and mathematics. The Ricardian theory of international trade is one of oldest economic theories, but its mathematical structure remained hidden until only a few years ago, when the present author discovered an...
Research
Full-text available
Agent-based simulation brings a host of possibilities for the future of economics. It provides a new analytical tool for both economics and mathematics. For a century and a half, mathematics has been the major tool of theoretical analysis in economics. It has provided economics with logic and precision, but economics is now suffering; economics in...
Data
Full-text available
This is a presentation material used in my presentation "The Economics of the Great Unbundling." Unbundling is the name of the recent conspicuous phenomenon in which manufacturing process is fragmented between firms and is now straddling countries. Permeating unbundling has changed the fundamental conditions and policies of developing countries fo...
Conference Paper
Full-text available
Unbundling is the name of the recent conspicuous phenomenon in which manufacturing process is fragmented between firms and is now straddling countries. Permeating unbundling has changed the fundamental conditions and policies of developing countries for the economic development. This paper gives a basic framework to analyze unbundling and examines...
Conference Paper
Full-text available
This paper examines two rectification problems, both related to Ricardo’s value theory. One is related to domestic (or internal) value theory and the other to international value theory. First problem is discussed form sections 3 to 6 and second problem from sections 7 to 10. Section 2 argues why Ricardo is still important, even crucial to economic...
Book
Full-text available
Contents Preface v Contents xvii Chap.1 Significance of the Ricardo problem solution to our days 1 Chap.2 The core idea of this book 31 Chap.3 The final solution to the Ricardo problem 83 Chap.4 That which has lead the conversion of theories of value 163 Chap.5 Mathematical analysis of Ricardo-Sraffa trade economy 321 Appendix: Duopolistic competit...
Article
Full-text available
The Ricardian theory of international trade is one of the oldest theories in economics. Nonetheless, it is by no means trivial and con-tinues to attract curiosity of many modern economists. The subtrop-ical geometry is just a tropical geometry based on min-times or max-times semirings. A set of wage rate vectors and a set of price vectors, when res...
Article
Full-text available
Product variety is a crucial dimension for successful management. While there are an enormous number of papers on this subject, few give insights on what to do on the estimation of optimal product variety in a concrete situation. Many results are much too sensitive to the assumptions and the conclusions are often contradictory. This paper presents...
Conference Paper
Full-text available
A paper read in the International Conference on Structural Economic Dynamics, September 3, 2012 at Meiji University, Tokyo. This is the first draft of a paper in preparation and a very short summery of my book A Final Solution of Ricardo Problem on International Values, published in March, 2014.
Article
Full-text available
Note: Uploaded paper is the draft before printing. For citations, please refer to the printed version. Abstract: The present paper reinterprets the comparative cost principle of David Ricardo in the light of the present global economy. Specifically, Ricardo’s inequalities of comparative advantage, based on the famous four coefficients of unit lab...
Article
Full-text available
The present paper reinterprets the comparative cost principle of David Ricardo in the light of the present global economy. Specifically, Ricardo's inequalities of comparative advantage, based on the famous four coefficients of unit labor requirement (and four related ratios), allow two different, though mathematically equivalent, inequalities. One...
Article
Full-text available
Samuelson's “A Ricardo-Sraffa Paradigm”(2001) is an implicit criticism against neo-Ricardians who could not provide any theory beyond the small open economy. The necessity of constructing a trade theory with traded intermediate products was evident and was challenged by both strands: neo-Ricardians and mainstream economists. The attempt failed and...
Book
Full-text available
Economics went through great development in the 20th century. This development, which was based mainly on mathematical methods, is not an appropriate method of analyzing markets that change every hour and every day. In a stock market, prices constantly change depending on speculation. U-Mart, a manmade market, has been proposed in order to study su...
Chapter
Full-text available
6.1 Introduction 6.2 A Short History of Economics 6.2.1 Three Classifications of Economics 6.2.2 Deadlock of Neoclassical Economics 6.2.3 Necessity of a Scientific Revolution in Economics 6.3 New Paradigm and New Study Approach 6.3.1 Financial Market 6.3.2 Day Traders as an Example 6.3.3 Possibility of Multi-agent Model 6.4 Behavioral Evolution a...
Article
Full-text available
Ricardian trade theory is one of the most famous theories of economics but appears to have been little developed. Many attempts were made to extend the theory to multi-country, multi-commodity cases, but none succeeded to construct a general theory that included intermediate goods. A need to include intermediate goods within the theory was evident,...
Chapter
Full-text available
A productive interaction between simulation and theory is required. This is not a simple appeal for a new collaboration. A paradigm change depends on it. More than 30 years have passed since everybody talked about paradigm change in economics. But no such thing occurred. In 1907's, necessity was evident but no way was indicated for the change. Arri...
Book
Full-text available
Virtual markets attract attention of economists, engineers and computer scientists as a novel research topic. The U-Mart Project is a forum for interdisciplinary research using virtual markets. The organizing committee of the U-Mart has developed a virtual market simulator of a futures markets of an existing stock index, demonstrated it in several...
Article
Full-text available
This paper is based on the presidential speech, read on March 28 in the 2004 Annual Conference of the Japan Association for Evolutionary Economics. At the occasion of the launch of the this Journal (Evolutionary and Institutional Economics Review), this paper is prepared and written as a first draft of the research program by which those who are in...
Conference Paper
Full-text available
See the PPT presentation sheets, attached.
Article
U-Mart is an interdisciplinary research program of agent-based artificial market. The U-Mart project develops open-type simulation toolkits to study trading strategies of the agents, the behavior of the market, and their relationships. The very original features of U-Mart are (1) that the simulators are designed as both a client-server system to ru...
Conference Paper
Full-text available
The paper claims that a new tool for economic analysis is necessary. Without such a tool, economics is confined to mathematical formulations and it is practically impossible to go further than general equilibrium analysis. Multi-agent model or agent-based simulation may provide us a new tool by which we may achieve a long waited breakthrough in eco...
Article
Full-text available
This paper was read in a Symposium “The Economic Cooperation in China, Japan, and Korea through the Perspective of the Local Venture Business”, which was held June 1, 2001 at Chonnam National University, Kwangju, Korea. The first draft appears in the Proceedings of the Symposium, pp.1-12.
Article
Full-text available
U-Mart is a research project to construct a virtual stock market, which any pre-registered agent can participate in via networks. The aim of the project is to provide a forum where many agents of both computer programs and human traders participate in the auction and compete in the market, and to provide a forum where research on market structure a...
Chapter
Full-text available
Excerpt from Editors’ Introduction: Yoshinori Shiozawa develops a theory of continuous economic history, using insights from complexity theory. Shiozawa argues that existence of concurrent factors and relations makes it impossible to understand economics systems through reductionist methods. He argues that ‘theory is a process of constant change i...
Article
Full-text available
Compares the philosophical backgrounds of the disciplines of economics and accounting in view of complexity theory. The relationship which has existed between the two is examined as well as the problems of such inter-disciplinary studies. Decision making, target costing and the need for future collaboration are discussed in light of the theory.
Conference Paper
Full-text available
The speaker proposes to think an economy not as equilibrium, but as dissipative structure. This vision of economic process gives a clear distinction between equilibrium economics and Keynesian economics. In equilibrium economics, the resulting state is determined by boundary conditions, i.e. endowed labor, land, and capital. In dissipative structur...
Conference Paper
Full-text available
Economic agents are always in a complex situation. They cannot find the best alternative among options. By the lack of information, by the limited capacity of logical processing and with the limit of action capacity, they don't behave as the neoclassical economics assumes. Instead, they have a set of behavior repertories and choose one of them acco...
Article
Full-text available
In contrast to the General Equilibrium model, Sraffa’s self-replacing state describes a process which repeats from period to period. Stationarity is one of the most important conditions which enable an agent with bounded rationality to behave appropriately. Introduction of fluctuations permits us to go further towards a more realistic situation. Wi...
Article
Full-text available
For a long time, economics has not made a distinction between equilibrium and stationary process. Observing that economies are basically stationary, it is reasoned that the situation is near the state where agents have no intention of changing their behavior even if they are to make a decision for a second time. The reality is far from this. This p...
Working Paper
Full-text available
From the first paragraph of the full text: The theory of prices has been investigated from two mutually contradictory view-points. The first theory, once dominant in neoclassical economics and in this sense more orthodox than the other, emphasizes the influence of the demand-supply gap over price fluctuations. The second theory stresses the produc...

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