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Newtonian Microeconomics: A Dynamic Extension to Neoclassical Micro Theory

By Matti Estola
eBook
$149.00
By Matti Estola
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Presenting the dynamic laws of economic quantities, this book tackles one of the core difficulties of current economic theory: that of transforming abstract equations of equilibrium into precise dynamic rules. The theoretical framework of neoclassical micro theory has historically prohibited its development into a quantitative science. Estola identifies the main weaknesses of this framework as follows: 1) Static optimization does not allow for the modelling of time-dependent production and ...

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