>For this you need game theory and a formal model? Is there anything
>here that couldn't be conveyed in three or four sentences of demotic
>prose?
>
>Doug
I actually believe that model-building is useful. You can make lots
of arguments in three or four sentences of demotic prose (or three or
four volumes). But many of them don't hang together. Formal
model-building imposes a consistency and coherency requirement that
can be quite useful...
Look, for example, at the trouble Marx got into in _Wage Labor and Capital_...
Brad DeLong
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