I remember calculating an economic model with my Mum when she was doing her Masters. It was done by modelling the "world" in a large, fairly sparse matrix and performing particular transformations as per a defined algorithm. It basically collapsed the matrix into particular values to find what you were looking for.
The guys who came up with it (I think they were Australians) won a Nobel(?) prize for it, but I can't remember what the technique is called. Anyone know? I might be remembering it incorrectly however.
The guys who came up with it (I think they were Australians) won a Nobel(?) prize for it, but I can't remember what the technique is called. Anyone know? I might be remembering it incorrectly however.