[OPE-L:6463] time: continuous and discrete
Allin Cottrell (cottrell@ricardo.ecn.wfu.edu)
Wed, 15 Apr 1998 11:53:24 -0400 (EDT)
This is a bit off-topic, but given the degree of interest in
matters of temporality on the list, maybe not too far off...
I'd like to come up with a nice analogical explanation of the
difference between discrete and continous time in economic
modeling, for pedagogical purposes. I thought of this:
discrete time modeling is like a movie (discrete frames =
periods) while continuous time modeling is like a video tape
made by a TV camera. Anyone know if the second half of the
analogy actually holds up? Thanks.
Allin Cottrell
Department of Economics
Wake Forest University, NC