The paper reviews historical applications of singularities and catastrophe theory in economics via Thom and Debreu and frames the Nash-quantal response equilibrium relationship as analogous to deterministic versus stochastic catastrophe theory.
Catastrophe Theory and Bifurcation (Routledge Revivals): Applications to Urban and Regional Systems
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Singularities and Catastrophes in Economics: Historical Perspectives and Future Directions
The paper reviews historical applications of singularities and catastrophe theory in economics via Thom and Debreu and frames the Nash-quantal response equilibrium relationship as analogous to deterministic versus stochastic catastrophe theory.