IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Axiomatic Basics of e-Economics

  • Kakarot-Handtke, Egmont

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.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: https://mpra.ub.uni-muenchen.de/24331/1/MPRA_paper_24331.pdf
File Function: original version
Download Restriction: no

File URL: https://mpra.ub.uni-muenchen.de/24978/2/MPRA_paper_24978.pdf
File Function: revised version
Download Restriction: no

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

as
in new window

Length:
Date of creation: 01 Jul 2010
Date of revision:
Handle: RePEc:pra:mprapa:24331
Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: https://mpra.ub.uni-muenchen.de

More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Schlicht, Ekkehart, . "Isolation and Aggregation in Economics," Monographs in Economics, University of Munich, Department of Economics, number 3.
  2. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
  3. Ostrom, Elinor, 2007. "Challenges and growth: the development of the interdisciplinary field of institutional analysis," Journal of Institutional Economics, Cambridge University Press, vol. 3(03), pages 239-264, December.
  4. Stiglitz, Joseph E, 1991. "Another Century of Economic Science," Economic Journal, Royal Economic Society, vol. 101(404), pages 134-41, January.
  5. Sherwin Rosen, 1997. "Austrian and Neoclassical Economics: Any Gains from Trade?," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 139-152, Fall.
  6. Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 1998. "Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 151-170, Summer.
  7. Richard H. Thaler, 2000. "From Homo Economicus to Homo Sapiens," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 133-141, Winter.
  8. Robert W. Fogel, 1999. "Catching Up with the Economy," American Economic Review, American Economic Association, vol. 89(1), pages 1-21, March.
  9. S. Abu Turab Rizvi, 2006. "The Sonnenschein-Mantel-Debreu Results after Thirty Years," History of Political Economy, Duke University Press, vol. 38(5), pages 228-245, Supplemen.
  10. Kurt Dopfer & Jason Potts, 2004. "Evolutionary realism: a new ontology for economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 195-212.
  11. Boland, Lawrence A, 1981. "On the Futility of Criticizing the Neoclassical Maximization Hypothesis," American Economic Review, American Economic Association, vol. 71(5), pages 1031-36, December.
  12. John J. McCall, 1971. "Probabilistic Microeconomics," Bell Journal of Economics, The RAND Corporation, vol. 2(2), pages 403-433, Autumn.
  13. Hoover,Kevin D., 2001. "Causality in Macroeconomics," Cambridge Books, Cambridge University Press, number 9780521452175.
  14. Olivier Blanchard & Lawrence F. Katz, 1996. "What We Know and Do Not Know About the Natural Rate of Unemployment," NBER Working Papers 5822, National Bureau of Economic Research, Inc.
  15. Wiseman, Jack, 1991. "The Black Box," Economic Journal, Royal Economic Society, vol. 101(404), pages 149-55, January.
  16. LeRoy, Stephen F, 1989. "Efficient Capital Markets and Martingales," Journal of Economic Literature, American Economic Association, vol. 27(4), pages 1583-1621, December.
  17. Sexton, Robert L. & Clower, Robert W. & Graves, Philip E. & Lee, Dwight R., 1992. "Incorporating inventories into supply and demand analysis," MPRA Paper 19905, University Library of Munich, Germany.
  18. Sophocles N. Brissimis & Nicholas S. Magginas, 2008. "Inflation Forecasts and the New Keynesian Phillips Curve," International Journal of Central Banking, International Journal of Central Banking, vol. 4(2), pages 1-22, June.
  19. Richard Day, 2008. "The technology evolving culture: character and consequence," Journal of Evolutionary Economics, Springer, vol. 18(3), pages 313-322, August.
  20. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
  21. Geoffrey Hodgson, 2010. "Choice, habit and evolution," Journal of Evolutionary Economics, Springer, vol. 20(1), pages 1-18, January.
  22. Robert J. Leonard, 1993. "Reason, Ethics and Rigour: Morgenstern, Menger, and Mathematical Economics, 1928 - 1944," Cahiers de recherche du Département des sciences économiques, UQAM 9403, Université du Québec à Montréal, Département des sciences économiques.
  23. Harcourt, G C, 1969. "Some Cambridge Controversies in the Theory of Capital," Journal of Economic Literature, American Economic Association, vol. 7(2), pages 369-405, June.
  24. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
  25. Debreu, Gerard, 1991. "The Mathematization of Economic Theory," American Economic Review, American Economic Association, vol. 81(1), pages 1-7, March.
  26. Robert J. Leonard, 1993. "From Von Neumann to Nash: Economics, Game Theory and Social Process," Cahiers de recherche du Département des sciences économiques, UQAM 9313, Université du Québec à Montréal, Département des sciences économiques.
  27. Warren J. Samuels, 1997. "On the Nature and Utility of the Concept of Equilibrium," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 20(1), pages 77-88, October.
  28. Gerschenkron, Alexander, 1969. "History of Economic Doctrines and Economic History," American Economic Review, American Economic Association, vol. 59(2), pages 1-17, May.
  29. Morishima, Michio, 1991. "General Equilibrium Theory in the Twenty-First Century," Economic Journal, Royal Economic Society, vol. 101(404), pages 69-74, January.
  30. Hirshleifer, Jack, 1977. "Economics from a Biological Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 1-52, April.
  31. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-25, June.
  32. Negishi,Takashi, 1985. "Economic Theories in a Non-Walrasian Tradition," Cambridge Books, Cambridge University Press, number 9780521259675.
  33. Hardy Hanappi, 2008. "The concept of choice: why and how innovative behaviour is not just stochastic," Journal of Evolutionary Economics, Springer, vol. 18(2), pages 275-289, April.
  34. Hollander, Samuel, 1977. "Adam Smith and the Self-Interest Axiom," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 133-52, April.
  35. Blaug,Mark, 1997. "Economic Theory in Retrospect," Cambridge Books, Cambridge University Press, number 9780521577014.
  36. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-15, March.
  37. Keuzenkamp, Hugo A & McAleer, Michael, 1995. "Simplicity, Scientific Interference and Econometric Modelling," Economic Journal, Royal Economic Society, vol. 105(428), pages 1-21, January.
  38. T.A. Boylan & P.F. O'Gorman, 2007. "Axiomatization And Formalism In Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 426-446, 07.
  39. Frank Hahn & Robert Solow, 1997. "A Critical Essay on Modern Macroeconomic Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 026258154x, June.
  40. Worswick, G D N, 1972. "Is Progress in Economic Science Possible?," Economic Journal, Royal Economic Society, vol. 82(325), pages 73-86, March.
  41. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
  42. McCloskey, Deirdre N., 1990. "If You're So Smart," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226556703.
  43. Robinson, Joan, 1972. "The Second Crisis of Economic Theory," American Economic Review, American Economic Association, vol. 62(2), pages 1-10, May.
  44. Chick, Victoria & Dow, Sheila C, 2001. "Formalism, Logic and Reality: A Keynesian Analysis," Cambridge Journal of Economics, Oxford University Press, vol. 25(6), pages 705-21, November.
  45. J. Barkley Rosser Jr, 2003. "Weintraub on the evolution of mathematical economics: a review essay," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 25(4), pages 575-589, July.
  46. Dosi, Giovanni & Nelson, Richard R, 1994. "An Introduction to Evolutionary Theories in Economics," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 153-72, September.
  47. Jack Hirshleifer, 1977. "Economics from a Biological Viewpoint," UCLA Economics Working Papers 087, UCLA Department of Economics.
  48. 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.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:24331. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.