IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/32996.html
   My bibliography  Save this paper

Primary and secondary markets

Author

Listed:
  • Kakarot-Handtke, Egmont

Abstract

The present paper swaps the standard behavioral axioms for structural axioms and applies the latter to the analysis of the emergence of secondary markets from the flow part of the economy. Real and nominal residuals at first give rise to the accumulation of the stock of money and the stock of commodities. This stocks constitute the demand and supply side of secondary markets. The pricing in these markets is different from the pricing in the primary markets. Winnings are different from income or profits. The emergence of secondary markets implies that the plans of households and firms are mutually incompatible.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2011. "Primary and secondary markets," MPRA Paper 32996, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:32996
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/32996/1/MPRA_paper_32996.pdf
    File Function: original version
    Download Restriction: no
    File URL: https://mpra.ub.uni-muenchen.de/43337/1/MPRA_paper_43337.pdf
    File Function: revised version
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Kakarot-Handtke, Egmont, 2011. "Reconstructing the Quantity Theory (I)," MPRA Paper 32421, University Library of Munich, Germany.
    2. Mirowski,Philip, 2002. "Machine Dreams," Cambridge Books, Cambridge University Press, number 9780521772839.
    3. Kakarot-Handtke, Egmont, 2011. "The pure logic of value, profit, interest," MPRA Paper 30853, University Library of Munich, Germany.
    4. Keuzenkamp, H.A. & McAleer, M., 1994. "Simplicity, scientific inference and econometric modelling," Other publications TiSEM dabcc476-15d7-4177-a2f5-b, Tilburg University, School of Economics and Management.
    5. Kakarot-Handtke, Egmont, 2011. "Keynes’s missing axioms," MPRA Paper 32742, University Library of Munich, Germany, revised 11 Aug 2011.
    6. Louis-Philippe Rochon & Sergio Rossi (ed.), 2003. "Modern Theories of Money," Books, Edward Elgar Publishing, number 2506.
    7. Frank Ackerman, 2001. "Still dead after all these years: interpreting the failure of general equilibrium theory," Journal of Economic Methodology, Taylor & Francis Journals, vol. 9(2), pages 119-139.
    8. Charles P. Kindleberger & Robert Z. Aliber, 2005. "Manias, Panics and Crashes," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-0-230-62804-5.
    9. K. Vela Velupillai, 2005. "The unreasonable ineffectiveness of mathematics in economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(6), pages 849-872, November.
    10. Mirowski,Philip, 2002. "Machine Dreams," Cambridge Books, Cambridge University Press, number 9780521775267.
    11. Tobin, James, 1980. "Are New Classical Models Plausible Enough to Guide Policy?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(4), pages 788-799, November.
    12. Stephen F. Le Roy, 2004. "Rational Exuberance," Journal of Economic Literature, American Economic Association, vol. 42(3), pages 783-804, September.
    13. Kakarot-Handtke, Egmont, 2011. "Squaring the investment cycle," MPRA Paper 32895, University Library of Munich, Germany.
    14. Kakarot-Handtke, Egmont, 2011. "Properties of an economy without human beings," MPRA Paper 31497, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kakarot-Handtke, Egmont, 2011. "Increasing returns and stability," MPRA Paper 33133, University Library of Munich, Germany.
    2. Egmont Kakarot-Handtke, 2013. "The Emergence of Profit and Interest in the Monetary Circuit," World Economic Review, World Economics Association, vol. 2013(2), pages 106-106, February.
    3. Kakarot-Handtke, Egmont, 2011. "Squaring the investment cycle," MPRA Paper 32895, University Library of Munich, Germany.
    4. Kakarot-Handtke, Egmont, 2011. "Reconstructing the Quantity Theory (I)," MPRA Paper 32421, University Library of Munich, Germany.
    5. Kakarot-Handtke, Egmont, 2013. "Understanding Profit and the Markets: The Canonical Model," MPRA Paper 48691, University Library of Munich, Germany.
    6. Kakarot-Handtke, Egmont, 2013. "Confused confusers. How to stop thinking like an economist and start thinking like a scientist," MPRA Paper 44046, University Library of Munich, Germany.
    7. Kakarot-Handtke, Egmont, 2012. "The rhetoric of failure: a hyper-dialog about method in economics and how to get things going," MPRA Paper 43276, University Library of Munich, Germany.
    8. Kakarot-Handtke, Egmont, 2012. "General formal foundations of the virtuous deficit–profit symmetry and the vicious debt deflation," MPRA Paper 42912, University Library of Munich, Germany.
    9. Kakarot-Handtke, Egmont, 2011. "Qualitative and temporal aggregation," MPRA Paper 33345, University Library of Munich, Germany.
    10. Kakarot-Handtke, Egmont, 2012. "Make a bubble, take a free lunch, break a bank," MPRA Paper 42996, University Library of Munich, Germany.
    11. Kakarot-Handtke, Egmont, 2012. "Taxes, profits, and employment: a structural axiomatic analysis," MPRA Paper 43581, University Library of Munich, Germany.
    12. Kakarot-Handtke, Egmont, 2011. "Uniform profit ratios," MPRA Paper 32639, University Library of Munich, Germany.
    13. Kakarot-Handtke, Egmont, 2003. "How to Get Rid of Demand–Supply–Equilibrium for Good," MPRA Paper 46917, University Library of Munich, Germany.
    14. Kakarot-Handtke, Egmont, 2011. "Schumpeter and the essence of profit," MPRA Paper 31176, University Library of Munich, Germany.
    15. Claus Dierksmeier, 2011. "The Freedom–Responsibility Nexus in Management Philosophy and Business Ethics," Journal of Business Ethics, Springer, vol. 101(2), pages 263-283, June.
    16. Kakarot-Handtke, Egmont, 2013. "The Ideal Economy: A Prototype," MPRA Paper 51582, University Library of Munich, Germany.
    17. Sandra Silva & Aurora Teixeira, 2009. "On the divergence of evolutionary research paths in the past 50 years: a comprehensive bibliometric account," Journal of Evolutionary Economics, Springer, vol. 19(5), pages 605-642, October.
    18. H. Spencer Banzhaf & James Boyd, 2012. "The Architecture and Measurement of an Ecosystem Services Index," Sustainability, MDPI, vol. 4(4), pages 1-32, March.
    19. Ivan Boldyrev & Olessia Kirtchik, 2014. "General Equilibrium Theory behind the Iron Curtain: The Case of Victor Polterovich," History of Political Economy, Duke University Press, vol. 46(3), pages 435-461, Fall.
    20. Kakarot-Handtke, Egmont, 2011. "Unemployment out of nowhere," MPRA Paper 32257, University Library of Munich, Germany, revised 15 Jul 2011.

    More about this item

    Keywords

    New framework of concepts; Structure-centric; Axiom set; Residuals; Real and nominal stocks; Money; Credit; Financial saving; Nonfinancial saving; Net worth; Financial profit; Nonfinancial profit; Retained Profit; Wealth; Commodity market; Financial market; Central Bank; Commercial banks;
    All these keywords.

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:32996. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.