For both the neoclassical model
and the sticky price model, the income and substitution effects on labor supply nearly offset one another.
In contradiction to our conclusions in Part II, certain scholars nevertheless claim that behavioral economics can improve antitrust analysis by making more accurate predictions than the neoclassical model
The neoclassical model
conceives of the following one-period optimization problem faced by the manager of a business:
I have demonstrated, within the context of a simple neoclassical model
, how a sequence of liquidity shocks can generate the phenomena under investigation.
Extending the Harrod-Domar model to include change in productivity, the neoclassical model
assumes that capital and labor become less effective as more of each is employed.
1992) have also employed the basic neoclassical model
to investigate the hypothesis of conditional convergence.
More specific to Chile, Chumacero and Fuentes (2006a) develop a two-sector neoclassical model
that allows for a natural-resource sector, which is an endowment, and a productive sector that uses capital and labor.
This is an approach that is sometimes seen as a challenge to neoclassical orthodoxy because it seeks to explain human behaviour that deviates from that predicted by the neoclassical model
of the rational self-interested individual.
The results show the dominance of two conceptions of the gene: the Neoclassical model
and the Mendelian model.
The present paper applies a similar market-clearing analysis to the neoclassical model
of imperfect competition in which firms may produce differentiated products, and for which long run equilibrium is described as ATC = P > MC.
The Ramsey growth model is a neoclassical model
of economic growth based on the work of Ramsey, whose idea was to determine the saving rate endogenously, through a dynamic maximization process.
There's some ability, some maneuvering, in the pay structure that the competitive neoclassical model