Sentences with phrase «actual economic behavior»

Generally, critics argue that this type of theory is overly static, as well as prone to equilibrium, whereas actual economic behavior is dynamic.

Not exact matches

Although these economic models have provided a strong and unifying foundation for the development of theory about decision - making, several decades of research on these topics has produced a wealth of evidence demonstrating that, in practice, these models do not provide a satisfactory description of actual human behavior.