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Axiomatic Basics of e-Economics

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  • Kakarot-Handtke, Egmont

Abstract

Standard economic models are based on an axiom set that epitomizes the fundamental behavioral assumptions. The present treatise moves these assumptions from the foreground to the background. The suggested change of perspective is guided by the question: what is the minimum set of foundational propositions for a consistent reconstruction of the evolving money economy? We start with four non-behavioral axioms. Subsequently their logical and factual implications are explored and the building blocks of the general axiomatic model are determined. The switch of the unifying principle resolves the profit conundrum – 'one of the most convoluted and muddled areas in economy theory'. Hence structural axiomatization has ramifications on larger parts of standard economics. By virtue of the axiom set evolution supersedes equilibrium as central organizing idea.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 24331.

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Date of creation: 01 Jul 2010
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Handle: RePEc:pra:mprapa:24331

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Keywords: Framework of Concepts; Structure-centric; Axiom Set; Propensity Function; General Axiomatic Model; Stochastic Processes; Evolutionary Economics; Evolving Money Economy; e·Economics;

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