2 ms·
You're suggesting that sometimes time matters. I agree. There's a whole subfield of economics studying the dynamics of decisions. However, As Wakker et al. poin
by dash2 6y ago
You're suggesting that sometimes time matters. I agree. There's a whole subfield of economics studying the dynamics of decisions. However, As Wakker et al. point out:
"Although it is true that our consumption of economic goods develops over time, time is not the most central aspect of all our decisions. For many of our decisions, other equally ubiquitous aspects such as risks, strategy and the balancing of pros and cons are more central. Just because something is ubiquitous, it should not be confused with being explanatory; for example, we can argue everything consists of molecules, but it is not a reason to think that all questions in economics, geography and throughout life should be answered by molecular dynamics.... Economists use static EU for static decisions, when dynamics are not central. Otherwise, a dynamic model is used."