Symmetry and Economic Invariance
Symmetry and Economic Invariance (second enhanced edition) explores how the symmetry and invariance of economic models can provide insights into their properties. Although the professional economist of today is adept at many of the mathematical techniques
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Ryuzo Sato Rama V. Ramachandran
Symmetry and Economic Invariance Second Enhanced Edition
Advances in Japanese Business and Economics 1
For further volumes: http://www.springer.com/series/11682
Advances in Japanese Business and Economics Editor in Chief: RYUZO SATO C.V. Starr Professor Emeritus of Economics, Stern School of Business, New York University Managing Editors: HAJIME HORI, Professor Emeritus, Tohoku University KAZUO MINO, Professor, Kyoto University MARIKO FUJII, Professor, The University of Tokyo Editorial Board Members: TAKAHIRO FUJIMOTO
MASAHIRO MATSUSHITA
Professor, The University of Tokyo
Professor Emeritus, Aoyama Gakuin University
YUZO HONDA Professor Emeritus, Osaka University Professor, Kansai University
TOSHIHIRO IHORI Professor, The University of Tokyo
TAKENORI INOKI
TAKASHI NEGISHI Professor Emeritus, The University of Tokyo The Japan Academy
KIYOHIKO NISHIMURA Professor, The University of Tokyo
Professor Emeritus, Osaka University Special University Professor, Aoyama Gakuin University
TETSUJI OKAZAKI
JOTA ISHIKAWA
Professor, Osaka University
Professor, Hitotsubashi University
KUNIO ITO
Professor, The University of Tokyo
YOSHIYASU ONO KOTARO SUZUMURA
Professor, Hitotsubashi University
Professor Emeritus, Hitotsubashi University The Japan Academy
KATSUHITO IWAI
HIROSHI YOSHIKAWA
Professor Emeritus, The University of Tokyo Visiting Professor, International Christian University
Professor, The University of Tokyo
Advances in Japanese Business and Economics showcases the research of Japanese scholars. Published in English, the series highlights for a global readership the unique perspectives of Japan’s most distinguished and emerging scholars of business and economics. It covers research of either theoretical or empirical nature, in both authored and edited volumes, regardless of the subdiscipline or geographical coverage, including, but not limited to, such topics as macroeconomics, microeconomics, industrial relations, innovation, regional development, entrepreneurship, international trade, globalization, financial markets, technology management, and business strategy. At the same time, as a series of volumes written by Japanese scholars, it includes research on the issues of the Japanese economy, industry, management practice and policy, such as the economic policies and business innovations before and after the Japanese ”bubble” burst in the 1990s. Overseen by a panel of renowned scholars led by Editor-in-Chief Professor Ryuzo Sato, the series endeavors to overcome a historical deficit in the dissemination of Japanese economic theory, research methodology, and analysis. The volumes in the series contribute not only to a deeper understanding of Japanese business and economics but to revealing underlying universal principles.
Ryuzo Sato • Rama V. Ramachandran
Symmetry and Economic Invariance Second Enhanced Edition
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Ryuzo Sato Stern School of Business New York University New York, USA
Rama V. Ramachandran Pebble Brook Lane Plano, Texas, USA
ISSN 2197-8859 I
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