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An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. [1]
Comparisons between economics and sociology have resulted in a corresponding term Homo sociologicus, introduced by German sociologist Ralf Dahrendorf in 1958, to parody the image of human nature given in some sociological models that attempt to limit the social forces that determine individual tastes and social values. [24] (The alternative or ...
Evolutionary economics is a school of economic thought that is inspired by evolutionary biology.Although not defined by a strict set of principles and uniting various approaches, it treats economic development as a process rather than an equilibrium and emphasizes change (qualitative, organisational, and structural), innovation, complex interdependencies, self-evolving systems, and limited ...
Or, the model may omit issues that are important to the question being considered, such as externalities. Any analysis of the results of an economic model must therefore consider the extent to which these results may be compromised by inaccuracies in these assumptions, and there is a growing literature debunking economics and economic models.
Grafen's key equations show the necessity of marginal cost and differential marginal cost, nowhere in his paper was Grafen able to show the necessity of wasteful equilibrium cost (a.k.a. handicap). Grafen's model is a model of condition dependent signalling that builds on a traditional life-history trade-off between reproduction and survival.
Biological economics is an interdisciplinary field in which the interaction of human biology and economics is studied. The journal Economics and Human Biology covers the field and has an impact factor of 2.722.
One aim of modern human behavioral ecology is to determine how ecological and social factors influence and shape behavioral flexibility within and between human populations. Among other things, HBE attempts to explain variation in human behavior as adaptive solutions to the competing life-history demands of growth, development, reproduction ...
"Now, here, you see, it takes all the running you can do, to keep in the same place." — Lewis Carroll [4]. In 1973, Leigh Van Valen proposed the hypothesis as an "explanatory tangent" to explain the "law of extinction" known as "Van Valen's law", [1] which states that the probability of extinction does not depend on the lifetime of the species or higher-rank taxon, instead being constant ...