Is Discrete Time a Good Representation of Continuous Time?

Omar Licandro () and Luis Puch

No ECO2006/28, Economics Working Papers from European University Institute

Abstract: 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.

Keywords: Discrete Time; Continuous Time; Time–to–Build; Delay; DDEs (search for similar items in EconPapers)
JEL-codes: C61 E32 O40 (search for similar items in EconPapers)
Date: 2006
New Economics Papers: this item is included in nep-dge and nep-mac
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Citations: View citations in EconPapers (6)

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Working Paper: Is Discrete Time a Good Representation of Continuous Time? (2006)
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