Sentence examples for based on microeconomic from inspiring English sources

Freshwater economists — who live near lakes, particularly at the University of Chicago, but also in Rochester and Minneapolis — are more likely to insist that macroeconomics be based on microeconomic foundations, which is to say that one should study large phenomena like recessions and inflation as functions of the behavior of many perfectly rational individuals.

Freshwater economists who live near lakes, particularly at the University of Chicago, but also in Rochester and Minneapolis are more likely to insist that macroeconomics be based on microeconomic foundations, which is to say that one should study large phenomena like recessions and inflation as functions of the behavior of many perfectly rational individuals.

His idea was to build structural models of the economy based on microeconomic factors that would not change unexpectedly with policy.

But in an agent-based model you simply run a computer simulation to see what emerges, free from any top-down assumptions.Although DSGE models are also based on microeconomic foundations, they accept the traditional view that there exists some ideal equilibrium towards which all prices are drawn.

The other set comprises of the behavioral equations which is based on microeconomic theory and describes the behavior of optimizing agents in the economy like demand function and supply function.

Lucas also argued that Keynesian empirical models would not be as stable as models based on microeconomic foundations.

We provide a simple theoretical framework, based on standard microeconomic theory, for tender evaluation (scoring and weighing) and discuss the pros and cons of methods such as highest quality (beauty contest), lowest price and price-and-quality-based evaluations.

Based on the microeconomic theory [20], we model the femtocell uplink resource allocation problem as a femtocell non-cooperative resource allocation game (FNRAG).

In fact, while DCMs can adequately elicit stakeholders' individual preferences based on sound microeconomic theory [9, 22, 23], ABMs can simulate and reproduce interaction in a participatory decision-making process where stakeholders can influence each other's decisions [24, 25, 26].

TIMMY: It's simply common sense, based on classic microeconomic-valuation modelling.

Multinomial and mixed logit models are estimated based on a consistent microeconomic framework, including non-linear utility functions and allowing for various stratifications of the data.