Abstract
The economic theory presented in the preceding chapters was purely static. To be more precise, the analyses were based on two assumptions:
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the economy’s structural variables were in some sense fixed. Two interpretations were then possible: either one postulated an undefined stationary state, or else one confined oneself to a study of the short term by ruling out any change in the structure.
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within this framework, economic agents had short term objectives. For them, everything took place as if the future had been destroyed.
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Abraham, C., Thomas, A. (1973). Discounting. In: Micro-Economics. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-2267-4_5
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DOI: https://doi.org/10.1007/978-94-017-2267-4_5
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