from Wiktionary, Creative Commons Attribution/Share-Alike License.
- verb transitive To
developsomething internally, especially a parameterwithin an economic model.
Sorry, no etymologies found.
We could make other choices about how to model technology, "endogenize" it or rethink how technology affects agent preferences, but that's not what we're after right now.
This research made him one of the founding fathers of the "public choice" school, which analyzes the driving forces behind political decisions and tries to endogenize political behavior in models of national economies.
In other words, an attempt was made to endogenize both economic and institutional factors, in order to account for changes in both.
As a result it could not capture, or endogenize, the observable phenomena that are endemic to the modern economy -- innovation, waves of rapid growth, big swings in business activity, disequilibria, intense employee engagement and workers 'intellectual development.