The Timing of Economic Activities

This study introduces ''time-specific'' analysis of economic processes. Economic processes are conventionally analysed from one point in time to another over a series of time units - days weeks or years. By contrast these time-specific models focus on the temporal character of events within the unit time - their timing duration and sequence - utilizing the information that is lost in the macroscopic time perspective of standard economic theory. What time-specific analysis reveals are economic and technological characteristics of goods and services - prices and cost behaviour and temporal mobility or immobility within the unit time - that affect capital productivity and its utilization optimal schedules of production work and consumption least-cost methods of producing time-shaped outputs and efficient welfare-maximizing behavior in time-specific including peak-load markets.