Discrete Time Models in Economic Theory

  • Kazuo Nishimura lnstitute of Economic Research, Kyoto University, Yoshida-honmachi, Sakyo·ku, Kyoto 606- 850 1, Japan.
  • John Stachurski lnstitute of Economic Research, Kyoto University, Yoshida-honmachi, Sakyo·ku, Kyoto 606- 850 1, Japan.

Abstract

The paper exposits a number of key dynamic models from the field of economics. The models share the feature that evolution of the system is consistent with the optimizing behavior of rational economic agents. Specifically, the laws of motion that we investigate are solutions to discrete time dynamic decision processes. Eveu with rational agents and simple economic environments, a variety of complex behaviors are shown to obtain.

Published
2004-03-01
How to Cite
Nishimura, K., & Stachurski, J. (2004). Discrete Time Models in Economic Theory. CUBO, A Mathematical Journal, 6(1), 187–207. Retrieved from http://revistas.ufro.cl/ojs/index.php/cubo/article/view/1654