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A Case Study of Normal Research in Theoretical Economics
Published online by Cambridge University Press: 05 December 2008
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Theoretical works in economics usually have a core consisting of proofs that a “model-economy” has certain properties. The economist constructs a model that can be looked on as a description of an economy, and then proves that certain relations hold in this economy and/or that certain relations in this economy depend on certain specific characteristics. The model-economy is usually described as simplified or idealized.
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