Trading economics: new theory for trading system evolution
This book reconstructs the theoretical framework of economics by examining the concept of trading, the trading network, and the evolution of a trading system, tied together by the notion of "bounded rationality." Trading economics uproots the theoretical paradigm of mainstream economics an...
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| Format: | Buch |
| Sprache: | English |
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Singapore
Springer
[2024]
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| Schriftenreihe: | Contributions to Economics
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | This book reconstructs the theoretical framework of economics by examining the concept of trading, the trading network, and the evolution of a trading system, tied together by the notion of "bounded rationality." Trading economics uproots the theoretical paradigm of mainstream economics and enables timeworn economic thinking to deal with the various complex phenomena of the modern economy.Mainstream economic theories see growth as the combined result of family and enterprise activities. Based on this understanding, established economic policies all focus on how to effectively influence the behavior of trading agents. Trading economics, by contrast, believes economic growth is the product of the activities of a self-organizing network of families and enterprises, rather than a simple superposition of the behaviors of trading agents. In policy design, trading economics looks to maintain the structural integrity of the trading network and the stability of the trading cycle |
| Beschreibung: | xxxi, 594 Seiten Illustrationen |
| ISBN: | 9789819998746 9789819998777 |
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| 490 | 0 | |a Contributions to Economics | |
| 520 | |a This book reconstructs the theoretical framework of economics by examining the concept of trading, the trading network, and the evolution of a trading system, tied together by the notion of "bounded rationality." Trading economics uproots the theoretical paradigm of mainstream economics and enables timeworn economic thinking to deal with the various complex phenomena of the modern economy.Mainstream economic theories see growth as the combined result of family and enterprise activities. Based on this understanding, established economic policies all focus on how to effectively influence the behavior of trading agents. Trading economics, by contrast, believes economic growth is the product of the activities of a self-organizing network of families and enterprises, rather than a simple superposition of the behaviors of trading agents. In policy design, trading economics looks to maintain the structural integrity of the trading network and the stability of the trading cycle | ||
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| 653 | |a Hardcover, Softcover / Wirtschaft/Volkswirtschaft | ||
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Datensatz im Suchindex
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| adam_text |
Contents Part I 1 Trading System . 1.1 1.2 1.3 2 3 3 6 10 15 Choice of Trading Agents . Family. Enterprises . 2.3.1 The Emergence of Enterprises . 2.3.2 Corporate Trading Objectives. Unification of Trading Motives . 15 17 21 21 26 28 Accounting Matrix . 31 31 33 33 34 36 38 39 39 41 41 42 2.4 3.1 3.2 3.3 3.4 3.5 4 The Significance of Trading. Structure of the Trading System . The Efficiency Law of Trading System Evolution . Trading Agents . 2.1 2.2 2.3 3 Fundamentals of Trading Economics Accounting Statements. Accounting Matrix . 3.2.1 Concept of Accounting Matrix. 3.2.2 Trading
Base. 3.2.3 Example of Accounting Matrix . Processing of Accounting Matrix . 3.3.1 Pricing Principle of Accounting Matrix . 3.3.2 Accounting for Human Capital . 3.3.3 Intangible Assets . Accounting Matrix Indicators . Accounting Matrix Synergy Effect. Expansion of Trading Concepts. 4.1 4.2 4.3 4.4 Simple Trading . Expansion of the Concept of Trade. Trading Direction . Trading Time Limit. 45 45 47 49 50 xxi
Contents xxii 5 Expected Return Function . 5.1 Utility Theory . 5.1.1 The Origin of the Concept of Utility . 5.1.2 The Meaning and Expression of the Concept 5.2 5.3 6 Principle of Maximizing of Expected Return. 6.1 6.2 Part II 7 Three Dimensions of Trading Motivation . Principle of Maximizing Expected Return . Concept of Trading Community . Trading Community Capacity . Community Openness . Agglomeration of Trading Communities . Stability of Trading Community . Generation of Trading Networks. 8.1 Generative Mechanism of Barter Network . 8.2 8.3 8.4 56 57 59 59 60 63 66 67 72 73 73 76 81 81 82 Birth and Structural Evolution of Trading Network Trading Community. 7.1 7.2 7.3 7.4 7.5 8 of Utility . 54 5.1.3 Expected Utility Theory . 5.1.4 Prospect Theory
. Expected Return Function . 5.2.1 Expectation and Return. 5.2.2 Expected Return Function. 5.2.3 Utility Axiom Proof. 5.2.4 Logical Basis of the Expected Return Function. 5.2.5 Institutional Basis of the Expected Return Function . 5.2.6 Advantages of the Expected Return Function . Trading Valuation Time Domain. 5.3.1 Concept of Trading Valuation Time Domain . 5.3.2 Short-Term Phenomenon of Valuation Time Domain . 75 5.3.3 Valuation Time Domain and Time Preference . 53 53 53 8.1.1 Initial Form of Trading Networks . 8.1.2 Evolution of Trading Network Patterns. The Generative Mechanism of Monetary Trading Network . Improvement of Trading System Efficiency . 8.3.1 Matching Efficiency of Barter . 8.3.2 Matching Efficiency of Monetary Trading Mechanism . 102 8.3.3 Improvement of Matching Efficiency . The Enhancement of Trading System Functions . 8.4.1 Specialization of the Trading System
. 91 91 92 93 94 95 97 97 97 98 99 101 101 103 104 104
Contents xxiii Progressive Division of Labor in the Trading System . 8.4.3 The Emergence of Government . Financialization of the Trading System . Informationization of the Trading System. Increase in Trading Phases. 8.7.1 Trading Phases . 8.7.2 Increase in Trading Phases . 8.7.3 Trading Phase Restructuring. 8.4.2 8.5 8.6 8.7 9 Expression of Trading Network. 9.1 9.2 9.3 9.4 9.5 9.6 9.7 9.8 10 Trading Network Capacity. Node Degree . Degree Distribution Function . Trading Network Density. Trading Network Circulation Rate . Trading Efficiency. Trading Network Connectivity . Reconnection Rate of Trading Network. Layered Structure of leading Network. 10.1 Layered Structure Induced by
Supply Constraints . 10.1.1 Layering of Community Trading Networks . 10.1.2 Cross-Community Market Arbitrage Mechanism . 10.2 Time Constraint Induced Layered Structure . 10.2.1 Layered Trading Model. 10.2.2 Christaller’s Central Place Theory. 10.3 Industrial Cluster Formation Induced by Synergistic Constraints . 147 10.4 Network Form Under Non-structural Constraints . . . . 10.5 The Nature of the Evolution of the Layered Structure of the Trading Network . 157 11 Trading Network Phase Structure . 11.1 11.2 11.3 Polycentric Phase Configuration. 11.1.1 Polycentric Trading Model . 11.1.2 Cartel Alliance Behavior. 11.1.3 Cournot Oligopoly Competition Model . 11.1.4 Bertrand Oligopoly Model . 11.1.5 Hotelling’s Oligopoly Competition Model. 11.1.6 D-S Monopolistic Competition Model . 11.1.7 Overview of Polycentric Market Properties . Monocentric Phase Configuration. 11.2.1 Monocentric Trading
Model. 11.2.2 Milgrom-Roberts Monopoly Model . Random Trading Configuration. 108 112 113 117 118 118 120 124 127 127 128 128 129 130 131 133 134 137 137 138 140 143 143 146 151 161 161 161 167 169 172 173 176 181 183 183 187 188
xxiv Contents 11.4 11.5 12 Supply Chain Hub Configuration . Supply Chain Layered Configuration. 191 193 Aggregation Structure of Trading Networks . 199 199 200 200 201 202 202 203 204 204 205 208 210 211 217 218 220 221 225 Function of Aggregation Structure . Aggregation Form of Trading Network . 12.2.1 Community Aggregation. 12.2.2 City Aggregation . 12.2.3 Economic Belt Aggregation . 12.2.4 National Aggregation. 12.2.5 International Aggregation . 12.3 Review of Urban Aggregation Model . 12.3.1 Thunen Model . 12.3.2 Alonso Model . 12.3.3 Christaller’s Central Place Theory . 12.4 Urban Aggregation Trading Model. 12.4.1 Urban Aggregation Trading Model . 12.4.2 Origin of Urban Aggregation . 12.4.3 Urban Expansion Mechanism.
12.4.4 Main Structural Features of Urban Aggregation . 12.4.5 Formation of the Urban Layered System . 12.5 Evolution of Trading Network Aggregation Structure. 12.1 12.2 13 Compactness of Trading Systems . 13.1 13.2 13.3 13.4 13.5 Part III 14 Concept of Compactness . 13.1.1 Interaction Mechanism of Trading Entities . 13.1.2 Visualization of the Concept of Compactness . 13.1.3 Axiomatic Definition of Compactness . Factors Influencing Compactness . 13.2.1 Trading Network Density . 13.2.2 Leverage Ratio of the Trading System . 13.2.3 Debt Structure of the Trading System. 13.2.4 Equity Structure of the Trading System . Compactness Oscillation . 13.3.1 Trade Cascade. 13.3.2 Crisis Phenomenon . Evolution of Trading System Compactness. The Compactness Effect of the Trading System. 13.5.1 Efficiency Enhancement Effect . 13.5.2 Uncertainty Amplification
Effect. Mechanism of Interaction Among Trading Agents and Polarization of Trading Potential Trading Equation . 14.1 231 231 231 232 233 234 234 236 236 239 240 240 242 242 244 245 245 Trading Decision Model. 255 255
Contents XXV 14.1.1 Trading Situation . 255 14.1.2 Trading Strategy Set . 256 14.1.3 Strategy Mother Set of the Trading System . 257 14.1.4 Trading Constraint Set. 257 14.2 Approximate Decision Rule. 258 14.3 Trading Equation. 261 15 Interpretation of Trading Phenomena . 15.1 Phenomenon of Trading Cascades . 15.1.1 Current Status of Research on Trading Cascade . 15.1.2 Existence of Trading Cascades. 15.1.3 Trading Cascade Process. 15.2 Technological Innovation. 15.2.1 Technological Innovation from the Perspective of Mainstream Economics . 15.2.2 Technological Innovation from the Perspective of Trading Economics . 15.3 Community Poverty . 15.3.1 Mainstream Economics Research on Poverty Phenomenon . 15.3.2 Analysis of Poverty Phenomenon by Trading Economics.
15.4 Gambler Behavior. 15.4.1 Explanation of Gambler Behavior by Behavioral Economics. 298 15.4.2 Explanation of Gambler Behavior by Trading Economics. 15.5 The Phenomenon of Industrial Agglomeration . 15.5.1 The Process of Industrial Agglomeration. 15.5.2 Scale of Industrial Agglomeration . 15.5.3 Conclusions on Industrial Agglomeration Analysis . 16 Trading Loop . 16.1 Concept of Trading Loop. 16.2 Typical Cases of Trading Loops . 16.3 Operation Mechanism of Trading Loops . 16.3.1 Trading Linkage Mechanism . 16.3.2 Trading Demonstration Mechanism . 16.4 Description of the Trading Loop. 16.4.1 Order of the Trading Loop . 16.4.2 Trading Loop Equivalent. 16.4.3 Trading Loop Equivalent Equation . 16.5 Stability of the Trading Loop. 16.6 The Phenomenon of Trading Loop
Bifurcation . 271 271 272 273 276 283 283 285 290 291 293 298 300 304 304 307 313 315 315 318 322 322 322 324 324 324 325 328 334
xxvi 17 Contents Distribution of Trading Potential . 17.1 17.2 17.3 17.4 17.5 Trading Potential. 17.1.1 Concept of Trading Potential . 17.1.2 The Origin of the Concept of Trading Potential. Measurement of Trading Potential . 17.2.1 Dimensions of Trading Potential . 17.2.2 Trading Potential Function . Theorem of Trading Potential Polarization . 17.3.1 Equation of Trading Potential Evolution. 17.3.2 Trading Potential Polarization Theorem . 17.3.3 Factors Influencing the Trading Potential Feedback Factor . 351 17.3.4 The Kuznets Curve. The Power Law Distribution of Trading Potential . 17.4.1 The Power Law Distribution Function of Trading Potential. 355 17.4.2 Calculation of Trading Potential Power Law Distribution . 362 The Intrinsic Mechanism of Trading Potential Differentiation . 364 17.5.1 The Micro-mechanism of Trading Potential Differentiation
. 17.5.2 The Social Logic of Trade Differentiation . 339 339 340 340 342 342 344 345 345 349 353 355 364 368 373 18.1 Measurement of Trading Potential Polarization . 373 18.2 Equation of the Trading System Evolution . 375 18.2.1 Derivation of the Equation of the Trading System Evolution. 376 18.2.2 Calculation of the Equation of the Trading System Evolution . 379 18.3 The Differentiation Process of the TradingSystem . 385 18.4 Social Fairness and Justice. 388 18.4.1 The Essence of Fairness and Justice . 388 18.4.2 Social Justice Measurement . 391 18.5 The Widespread Impact of Trading PotentialDifferentiation . 394 18.5.1 The Market Concentration Continues toRise . 394 18.5.2 Polarization of Wealth Distribution . 396 18.5.3 Destruction of Social Justice . 398 18.5.4 Decline in Economic Vitality, SlowGrowth. 400 18 Equation of the Trading System Evolution. 19 Evolution of Trading Space . 19.1 Trading Space
. 19.1.1 Trading Vector . 19.1.2 Trading Space. 19.1.3 Magnitude of Trading Vector . 403 403 403 404 405
Contents xxvii 19.1.4 Trading Space Distance. 19.1.5 Trade Vector Liquidity Pressure. 19.1.6 Expected Returns of Trading Vectors . 19.1.7 Transition Probability of Trading Vectors. 19.2 Trading Space Structure . 19.2.1 State Connectivity . 19.2.2 State Closure. 19.2.3 State Cycle . 19.3 Trading Trajectory Equation . 19.3.1 Analysis of Factors Affecting Transition Probabilities . 414 19.3.2 Trading Trajectory Equation. 19.3.3 The Inherent Mechanism of State Field Differentiation . 419 19.4 Evolution of Trading Space . 19.4.1 Expansion of Trading Space, the Inevitability of the Economic Globalization. 422 19.4.2 Path Dependence of Trading Behavior, the Progression of Human Society’s Development . 427 19.4.3 Reducibility of Trading Space, the Tendence of Society’s Stratification Evolution . 429 19.4.4 “Black Hole” in Trading Space, the Existence of Poverty
Trap. Part IV 20 21 416 422 431 Trading Economics Model Trade Phase Transition . 20.1 20.2 20.3 20.4 407 408 409 409 410 410 411 413 414 Concept of Trading State . Phase Transition Equation of the Trading State . Discussion of the Phase Transition Equation . Trading State Diffusion . 20.4.1 Trading State Diffusion Mechanism . 20.4.2 High Aggregation Community. 20.4.3 Low-Aggregation Community . 20.4.4 Closed Community . 20.4.5 Large-Capacity Community . Economic Cycle Model . 21.1 Evolution of Economic Cycle Theory . 21.2 The Nature of Economic Cycle. 21.3 Trading Economics Cycle Model . 21.3.1 Trading System State Entropy . 21.3.2 Trading State Synchronization Index . 21.3.3 Economic Cycle Model. 21.3.4 Working Mechanism of Economic Cycle
Model. 21.3.5 Relationship with the Main Economic Cycle Model . 437 437 439 441 445 445 447 448 448 449 453 453 456 458 459 461 462 465 466
xxviii Contents Effects of Monetary Policy Regulation . 467 Economic Growth Model . 471 471 473 473 475 477 485 489 499 21.4 22 22.1 Review of Economic Growth Theory. 22.2 The Essence of Economic Growth . 22.2.1 The Growth from Trading Economics’Perspective . 22.2.2 Growth Policies of Trading Economics. 22.3 Economic Growth Model. 22.4 Steady-State Economic Growth . 22.5 Phenomenon of Accelerated Economic Growth . 22.6 Policy Implications of Economic Growth Models . 23 Trading Pricing Model. 23.1 23.2 Price Theory in Mainstream Economics . Unilateral Pricing Mechanism. 23.2.1 Unilateral Pricing Mechanism . 23.2.2 Price Squeeze Risk. 23.2.3 Optimal Pricing Strategy. 23.2.4 Unilateral Market Pricing Equation. 23.3 Bilateral Pricing Mechanism . 23.3.1 Bilateral Pricing Mechanism
. 23.3.2 Bilateral Market Pricing Equation . 23.4 Multilateral Pricing Mechanism . 23.4.1 Multilateral Pricing Mechanism. 23.4.2 Pricing Behavior. 23.4.3 Multilateral Market Pricing Equation . 23.5 Comparison of Three Pricing Mechanisms . 23.6 Price Equation . 23.6.1 Price Formation Mechanism in Modern Economy . 23.6.2 Price Equation . 23.7 Application of the Price Equation. 23.7.1 Inflation Threshold Phenomenon. 23.7.2 Stagflation Phenomenon . Part V 24 Nature and Evolutionary Endpoint of Trading System Trading System Equilibrium . 24.1 24.2 24.3 24.4 24.5 507 507 510 510 511 512 517 519 519 520 526 526 527 530 533 535 535 536 541 541 542 Concept of Equilibrium . «-Equilibrium . Pole Residence. Equilibrium
Point Displacement. Weak Stability of the Trading System . 549 549 553 555 557 563
Contents 25 Optimal Conditions for Trading System Efficiency . Social Welfare Function of Trading Economics . Potential Optimal State of Trading System . Efficiency Decay of Trading System . Institutional Suppression . Income Trap. 567 567 572 573 575 578 580 The Imperfection of the Trading System. 583 Efficiency Decay of Trading System . 25.1 25.2 25.3 25.4 25.5 25.6 26 xxix Distribution of Institutional Lineages. 583 26.1.1 Concept of Institution . 583 26.1.2 Distribution of Institutional Lineages . 584 26.2 The Impossibility Theorem of Perfect Institutions. 586 26.2.1 Statement of the Impossibility Theorem of Perfect Institutions. 586 26.2.2 Proof of the Impossibility Theorem of Perfect Institutions. 586 26.3 Implications of the Impossibility Theorem ofPerfect Systems. 593 26.1 |
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| indexdate | 2024-11-11T09:06:41Z |
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| isbn | 9789819998746 9789819998777 |
| language | English |
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| physical | xxxi, 594 Seiten Illustrationen |
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| spelling | Wang, Zhenying Verfasser (DE-588)1201838959 aut Trading economics new theory for trading system evolution Zhenying Wang Singapore Springer [2024] xxxi, 594 Seiten Illustrationen txt rdacontent n rdamedia nc rdacarrier Contributions to Economics This book reconstructs the theoretical framework of economics by examining the concept of trading, the trading network, and the evolution of a trading system, tied together by the notion of "bounded rationality." Trading economics uproots the theoretical paradigm of mainstream economics and enables timeworn economic thinking to deal with the various complex phenomena of the modern economy.Mainstream economic theories see growth as the combined result of family and enterprise activities. Based on this understanding, established economic policies all focus on how to effectively influence the behavior of trading agents. Trading economics, by contrast, believes economic growth is the product of the activities of a self-organizing network of families and enterprises, rather than a simple superposition of the behaviors of trading agents. In policy design, trading economics looks to maintain the structural integrity of the trading network and the stability of the trading cycle bisacsh Macroeconomics Hardcover, Softcover / Wirtschaft/Volkswirtschaft Erscheint auch als Online-Ausgabe 978-981-99-9875-3 Digitalisierung UB Bamberg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=035030513&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Wang, Zhenying Trading economics new theory for trading system evolution bisacsh Macroeconomics |
| title | Trading economics new theory for trading system evolution |
| title_auth | Trading economics new theory for trading system evolution |
| title_exact_search | Trading economics new theory for trading system evolution |
| title_full | Trading economics new theory for trading system evolution Zhenying Wang |
| title_fullStr | Trading economics new theory for trading system evolution Zhenying Wang |
| title_full_unstemmed | Trading economics new theory for trading system evolution Zhenying Wang |
| title_short | Trading economics |
| title_sort | trading economics new theory for trading system evolution |
| title_sub | new theory for trading system evolution |
| topic | bisacsh Macroeconomics |
| topic_facet | bisacsh Macroeconomics |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=035030513&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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