Micro foundations for meso and macro economic theory |
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| Authors: | Richard H Day |
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| Institution: | (1) University of Southern California, Kaprielian Hall (KAP) 318a, Los Angeles, CA 90089-0253, USA |
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| Abstract: | The natures of rational thought and rational lives are described as the basis of an adaptive economizing theory which presents
an alternative microeconomic foundation contrasting with but complementary to optimal control theory for modeling mesoeconomic
order. Contrastingly, that micro foundation seems to imply the inappropriateness of representing macro data as an optimal
economic agent. Rather, direct representation of the emergent causal order in the macroeconomic data is suggested.
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| Keywords: | Micro foundation Mesoeconomic Economic theory |
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