Is Discrete Time a Good Representation of Continuous Time?

Economists model time as continuous or discrete. The recent literature on continuous time models with delays should help to bridge the gap between these two families of models. In this note, we propose a simple time–to–build model in continuous time, and show that a discrete time version is a true representation of the continuous time problem under some sufficient conditions.

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Year of publication:	2006
Authors:	Licandro, Omar ; Puch, Luis A.
Institutions:	Department of Economics, European University Institute
Subject:	Discrete Time \| Continuous Time \| Time–to–Build \| Delay \| DDEs

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Series:	Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series European University Institute Working Papers Number ECO2006/28
Classification:	O40 - Economic Growth and Aggregate Productivity. General ; E32 - Business Fluctuations; Cycles ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005816382