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Abstract

The present paper provides a substantial re-conceptualization of the serialclearing of the product market on the basis of structural axioms. This changeof premises is required simply because from the accustomed premises only theaccustomed conclusions can be derived and these are known to be inapplicablein the real world. This holds in particular for the still popular idea that theworking of a market can be described in terms of the triad demand function–supply function–equilibrium. Structural axiomatization provides the completeand consistent picture of interrelated product market events.



Item Type: MPRA Paper -

Original Title: How to Get Rid of Demand–Supply–Equilibrium for Good-

Language: English-

Keywords: new framework of concepts; structure-centric; axiom set; time; randomness;paradigm; price setting; market clearing; inventory cycle; quantityof money; profit-

Subjects: D - Microeconomics > D0 - General > D00 - GeneralE - Macroeconomics and Monetary Economics > E0 - General > E00 - GeneralE - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E30 - General-





Autor: Kakarot-Handtke, Egmont

Fuente: https://mpra.ub.uni-muenchen.de/46917/







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