Empirical models, rules, and optimization: turning positive economics on its head
This paper considers supply decisions by firms in a dynamic setting with adjustment costs and compares the behavior of an optimal control model to that of a rule-based system which relaxes the assumption that agents are explicit optimizers. In our approach, the economic agent uses believably simple...
| Autores principales: | , |
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| Formato: | Artículo preliminar |
| Lenguaje: | Inglés |
| Publicado: |
International Food Policy Research Institute
2000
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/155795 |
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