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Recursive economics : ウィキペディア英語版 | Recursive economics Recursive economics is a branch of modern economics based on a paradigm of individuals making a series of two-period optimization decisions over time. ==Differences between recursive and neoclassical paradigms== The neoclassical model assumes a one-period utility maximization for a consumer and one-period profit-maximization by a producer. The adjustment that occurs within that single time period is a subject of considerable debate within the field, and is often left unspecified. A time-series path in the neoclassical model is a series of these one-period utility maximizations. In contrast, a recursive model involves two or more periods, in which the consumer or producer trades off benefits and costs across the two time periods. This trade-off is sometimes represented in what is called an Euler equation. A time-series path in the recursive model is the result of a series of these two-period decisions. In the neoclassical model, the consumer or producer maximizes utility (or profits). In the recursive model, the subject maximizes value or welfare, which is the sum of current rewards or benefits and discounted future expected value.
抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「Recursive economics」の詳細全文を読む
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