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.
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.
Source: Wikipedia "Recursive economics" · CC BY-SA 4.0
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