IDEAS home Printed from https://ideas.repec.org/a/eee/matsoc/v103y2020icp25-35.html
   My bibliography  Save this article

Economic reasoning with demand and supply graphs

Author

Listed:
  • Takemura, Ryo

Abstract

We investigate an interaction between mathematical logic and economics by exploring a mathematical model of economic reasoning. To this purpose, we focus on economic reasoning with linear demand and supply graphs. Linear graphs have the following advantages: Linear graphs are easily constructed and reasoning using such graphs can be effectively managed; linear graphs are qualitatively determinate with respect to our problems. We investigate the types of problems regarding general demand and supply functions that can be reduced to linear graphs and discuss abductive reasoning with demand and supply graphs. Then, we propose a model of economic reasoning by formalizing reasoning with linear graphs in the framework of natural deduction developed through proof theory of mathematical logic.

Suggested Citation

  • Takemura, Ryo, 2020. "Economic reasoning with demand and supply graphs," Mathematical Social Sciences, Elsevier, vol. 103(C), pages 25-35.
    • Handle: RePEc:eee:matsoc:v:103:y:2020:i:c:p:25-35
    DOI: 10.1016/j.mathsocsci.2019.11.001
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0165489619300873
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.mathsocsci.2019.11.001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Michael Hoy & John Livernois & Chris McKenna & Ray Rees & Thanasis Stengos, 2011. "Mathematics for Economics," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262015072, December.
    2. Farley, Arthur M. & Lin, Kuan-Pin, 1990. "Qualitative reasoning in economics," Journal of Economic Dynamics and Control, Elsevier, vol. 14(2), pages 465-490, May.
    3. Hoy, Michael & Livernois, John & McKenna, Chris & Rees, Ray & Stengos, Thanasis, 2011. "Student Solutions Manual for Mathematics for Economics," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262517949, December.
    4. Berndsen, R.J. & Daniels, H.A.M., 1991. "Qualitative economics : An implementation in Prolog," Other publications TiSEM 83324814-0a3e-4d32-8b17-f, Tilburg University, School of Economics and Management.
    5. Mamoru Kaneko, 2013. "Symposium: logic and economics—interactions between subjective thinking and objective worlds," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 53(1), pages 1-8, May.
    6. Quirk, James, 1997. "Qualitative comparative statics," Journal of Mathematical Economics, Elsevier, vol. 28(2), pages 127-154, September.
    7. Aimo Hinkkanen & Karl R. Lang & Andrew B. Whinston, 2003. "A Set-Theoretical Foundation of Qualitative Reasoning and its Application to the Modeling of Economics and Business Management Problems," Information Systems Frontiers, Springer, vol. 5(4), pages 379-399, December.
    8. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, Decembrie.
    9. Kevin M Currier, 2000. "Comparative Statics Analysis in Economics," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 4476, February.
    10. Kerber, Manfred & Lange, Christoph & Rowat, Colin, 2016. "An introduction to mechanized reasoning," Journal of Mathematical Economics, Elsevier, vol. 66(C), pages 26-39.
    11. Blume, Lawrence & Easley, David & Kleinberg, Jon & Kleinberg, Robert & Tardos, Éva, 2015. "Introduction to computer science and economic theory," Journal of Economic Theory, Elsevier, vol. 156(C), pages 1-13.
    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. Borgonovo, E., 2008. "Differential importance and comparative statics: An application to inventory management," International Journal of Production Economics, Elsevier, vol. 111(1), pages 170-179, January.
    2. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.
    3. Miloš Hitka & Lenka Ližbetinová, 2023. "Human potential of talents in agriculture and forestry in context of Agriculture 4.0," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 69(6), pages 223-233.
    4. John Revesz, 2020. "A Model of the Optimal Tax Mix Including Capital Taxation," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(3), pages 387-402, September.
    5. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, December.
    6. Firdous Ahmad Mala, 2022. "Kam Yu, Mathematical economics: prelude to the neoclassical model," Journal of Economics, Springer, vol. 136(1), pages 93-96, June.
    7. Berndsen, R.J., 1992. "Qualitative reasoning and knowledge representation in economic models," Other publications TiSEM 81fd6886-b744-4c37-9dac-4, Tilburg University, School of Economics and Management.
    8. Wright, Austin L. & Sonin, Konstantin & Driscoll, Jesse & Wilson, Jarnickae, 2020. "Poverty and economic dislocation reduce compliance with COVID-19 shelter-in-place protocols," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 544-554.
    9. Jolian McHardy & Michael Reynolds & Stephen Trotter, 2012. "The Stackelberg Model as a Partial Solution to the Problem of Pricing in a Network," Working Paper series 19_12, Rimini Centre for Economic Analysis.
    10. Janvier D. Nkurunziza, 2005. "Reputation and Credit without Collateral in Africa`s Formal Banking," Economics Series Working Papers WPS/2005-02, University of Oxford, Department of Economics.
    11. Stephanie Rosenkranz & Patrick W. Schmitz, 2007. "Can Coasean Bargaining Justify Pigouvian Taxation?," Economica, London School of Economics and Political Science, vol. 74(296), pages 573-585, November.
    12. Vadim Borokhov, 2014. "On the properties of nodal price response matrix in electricity markets," Papers 1404.3678, arXiv.org, revised Jan 2015.
    13. Daniel Sutter & Daniel J. Smith, 2017. "Coordination in disaster: Nonprice learning and the allocation of resources after natural disasters," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 30(4), pages 469-492, December.
    14. Hanming Fang & Peter Norman, 2014. "Toward an efficiency rationale for the public provision of private goods," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 56(2), pages 375-408, June.
    15. Gan, Li & Ju, Gaosheng & Zhu, Xi, 2015. "Nonparametric estimation of structural labor supply and exact welfare change under nonconvex piecewise-linear budget sets," Journal of Econometrics, Elsevier, vol. 188(2), pages 526-544.
    16. Peterson, Jeffrey M. & Boisvert, Richard N. & de Gorter, Harry, 1999. "Multifunctionality and Optimal Environmental Policies for Agriculture in an Open Economy," Working Papers 127701, Cornell University, Department of Applied Economics and Management.
    17. Tian, Guoqiang, 2009. "Implementation of Pareto efficient allocations," Journal of Mathematical Economics, Elsevier, vol. 45(1-2), pages 113-123, January.
    18. Ahmad Naimzada & Marina Pireddu, 2019. "The first fundamental theorem of welfare in a general equilibrium evolutionary setting," Working Papers 415, University of Milano-Bicocca, Department of Economics, revised 06 Jun 2019.
    19. Gajanan Panchal & Vipul Jain & Naoufel Cheikhrouhou & Matthias Gurtner, 2017. "Equilibrium analysis in multi-echelon supply chain with multi-dimensional utilities of inertial players," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 16(4), pages 417-436, August.
    20. Aldasoro, Iñaki & Delli Gatti, Domenico & Faia, Ester, 2017. "Bank networks: Contagion, systemic risk and prudential policy," Journal of Economic Behavior & Organization, Elsevier, vol. 142(C), pages 164-188.

    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:eee:matsoc:v:103:y:2020:i:c:p:25-35. 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505565 .

    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.