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Article
Elements of Dynamic Economic Modeling: Presentation and Analysis
Eastern Economic Journal
  • Leigh Tesfatsion, Iowa State University
Document Type
Article
Publication Version
Submitted Manuscript
Publication Date
1-1-2016
DOI
10.1057/eej.2016.2
Abstract

The primary goal of these introductory notes is to promote the clear presentation and rigorous analysis of dynamic economic models, whether expressed in equation or agent-based form. A secondary goal is to promote the use of initial-value state-space modeling with its regard for historical process, for cause leading to effect without the external imposition of global coordination constraints on agent actions. Economists who claim to respect individual rationality should not be doing for their modeled economic agents what in reality these agents must do for themselves.

Comments

This is a working paper of an article from Eastern Economic Journal (2016): doi:10.1057/eej.2016.2.

Citation Information
Leigh Tesfatsion. "Elements of Dynamic Economic Modeling: Presentation and Analysis" Eastern Economic Journal (2016)
Available at: http://works.bepress.com/leigh-tesfatsion/13/