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In applicative theories the recursion theorem provides a term rec which solves recursive equations. However, it is not provable that a solution obtained by rec is minimal. In the present paper we introduce an applicative theory in which it is possible to define a least fixed point operator. Still, our theory has a standard recursion theoretic interpretation.doi:10.1016/s1567-8326(01)00006-6 fatcat:3hzhugi4zjeohp6vmby5jgfdnq