Economics and Finance

   

Price Uncertainty Principle

Authors: Chuanli Chen

In modern economy science, there are many theories that discuss the equilibrium. This convention was originally come from two famous economists Walras and Afred Marshall. Walras firstly finished the general equilibrium theory in 1874 in the book the mere economics to iustice. While Afred Marshall put forward the partial equilibrium in 1920. However, by observance, there was never the evidence for the existence of equilibrium. In this paper, I will put forward a new price theory, which is named Price Uncertainty Principle. I will point out the flaws of these two equilibrium theories and discuss why the price mechanism is not the invisible hand, then further discuss why partial equilibrium and general equilibrium are not existent. I will prove that there is no equilibrium point for the price and prices are always fluctuant in the market.

Comments: 23 Pages.

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Submission history

[v1] 2017-05-25 10:44:59
[v2] 2017-06-30 01:01:01

Unique-IP document downloads: 53 times

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