Please use this identifier to cite or link to this item:
Day, Richard
Year of Publication: 
Series/Report no.: 
Papers on Economics and Evolution No. 0514
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

Files in This Item:
253.12 kB

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.