Document Type

Working Paper

Publication Date

2-22-2016

Working Paper Number

14001

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 state-space modeling with its respect for historical process, for cause leading to effect without top-down imposition of global constraints. If economic modelers truly wish to respect the rationality of decision-makers, they should have the courage of their convictions; they should not be doing for their modeled decision-makers what in reality these decision-makers must do for themselves.

Publication Status

Forthcoming in Eastern Economic Journal.

JEL Classification

A23, B4, C6

File Format

application/pdf

Length

41 pages

File Function

Latest revision: 22 February 2016. Original Version released February 2014. Revised on August 2014.

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