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:
“Literature that is not the breath of contemporary society, that dares not transmit the pains and fears of that society, that does not warn in time against threatening moral and social dangers—such literature does not deserve the name of literature; it is only a façade. Such literature loses the confidence of its own people, and its published works are used as wastepaper instead of being read.”
—Alexander Solzhenitsyn (b. 1918)