An infinite-dimensional separable pre-Hilbert space non-homeomorphic to any of its closed hyperplanes

An example is constructed of an infinite-dimensional separable pre-Hilbert space non-homeomorphic to any of its closed hyperplanes.

Counterexample to Peano's theorem in infinite-dimensional F '-spaces

Let $E$ be a nonnormable Frechet space, and let $E'$ be the space of all continuous linear functionals on $E$ in the strong topology. A continuous mapping $f : E' \to E'$ such that for any $t_0\in R$ and $x_0\in E'$, the Cauchy problem $\dot x= f(x)$, x(t_0) = x_0$ has no solutions is constructed.

Simple heuristics: From one infinite regress to another?

Gigerenzer, Todd, and the ABC Research Group argue that optimisation under constraints leads to an infinite regress due to decisions about how much information to consider when deciding. In certain cases, however, their fast and frugal heuristics lead instead to an endless series of decisions about how best to decide.

Jordan isomorphism of purely infinite C*-algebras

We prove that every unital bounded linear mapping from a unital purely infinite C*-algebra of real rank zero into a unital Banach algebra which preserves elements of square zero is a Jordan homomorphism. This entails a description of unital surjective spectral isometries as the Jordan isomorphisms in this setting.

Hicks meets Hotelling: the direction of technical change in capital-resource economies

We analyze a two-sector growth model with directed technical change where man-made capital and exhaustible resources are essential for production. The relative profitability of factor-specific innovations endogenously determines whether technical progress will be capital- or resource-augmenting. We show that any balanced growth equilibrium features purely resource-augmenting technical change. This result is compatible with alternative specifications of preferences and innovation technologies, as it hinges on the interplay between productive efficiency in the final sector, and the Hotelling rule characterizing the efficient depletion path for the exhaustible resource. Our result provides sound micro-foundations for the broad class of models of exogenous/endogenous growth where resource-augmenting progress is required to sustain consumption in the long run, contradicting the view that these models are conceptually biased in favor of sustainability.