Contemporary Reformulation
Game theory and models of strategic interaction have largely replaced kinked demand to explain price dislocations and slowly adjusting prices. For further information see:
Read more about this topic: Kinked Demand
Famous quotes containing the word contemporary:
“Eclecticism is the degree zero of contemporary general culture: one listens to reggae, watches a western, eats McDonald’s food for lunch and local cuisine for dinner, wears Paris perfume in Tokyo and “retro” clothes in Hong Kong; knowledge is a matter for TV games. It is easy to find a public for eclectic works.”
—Jean François Lyotard (b. 1924)