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Title:Microeconomic foundations for macroeconomic structure PDF Logo
Authors:Day, Richard
Issue Date:2005
Series/Report no.:Papers on economics and evolution 0514
Abstract:The models used in economic theory, though necessarily abstract, should be consistent with the nature of decision making behavior. A formal metaphor of individual behavior as a continuous flow indicates certain requirements that theories of consumer, producer, and economywide behavior should exhibit. A family of discrete time, recursive optimizing models is suggested as the appropriate building block for further developing dynamic economic theory.
Document Type:Working Paper
Appears in Collections:Papers on Economics and Evolution, MPI für Ökonomik

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