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Future Time in Microeconomics: An Alternate Approach to its Study

Author

Listed:
  • John F.M. McDermott

    (67 May St., Jamaica Plain, MA 02130; e-mail: johnmjp@verizon.net)

Abstract

The article is an immanent critique of mainstream microeconomics, particularly of its treatment of time. In support of that, a behavioral microeconomic paradigm is formulated. The article includes an analysis of sets of transactions that require positive time intervals for their completion such that they are not comprehended within Arrow-Hahn general equilibria criteria. JEL classification: B21, B41, D50

Suggested Citation

  • John F.M. McDermott, 2007. "Future Time in Microeconomics: An Alternate Approach to its Study," Review of Radical Political Economics, Union for Radical Political Economics, vol. 39(4), pages 503-522, December.
    • Handle: RePEc:sae:reorpe:v:39:y:2007:i:4:p:503-522
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    More about this item

    Keywords

    microeconomics; sale/purchase-in-time; competitive equilibrium; behavioral economics;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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