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The Macroeconomics of Individual Action: A Mathematical Extension to Austrian Thought [Kindle Edition]

Derrel Walters
4.0 out of 5 stars  See all reviews (1 customer review)

Kindle Price: $2.99
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Book Description

A mathematical extension to the Austrian School of Economics is introduced where a treatment of individual action is extended to a macroeconomic description. Useful equations are derived including the probability of an individual to act, the price for a good or service that an individual is willing to pay, methodology for satisfactorily predicting the market price for a good, among others. Further, the three ways of influencing action are explored including in the context of government intervention into individual action. Interest rates are briefly discussed with respect to money supply and time preference. As well, marginal utility is concisely mentioned in terms of the presented model.

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Product Details

  • File Size: 382 KB
  • Print Length: 30 pages
  • Simultaneous Device Usage: Unlimited
  • Publisher: Derrel Walters (May 20, 2013)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B00CXADK2A
  • Text-to-Speech: Enabled
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  • Lending: Enabled
  • Amazon Best Sellers Rank: #650,414 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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4.0 out of 5 stars Nicely Done January 28, 2014
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This is a nice little book which attempts to put a bit of mathematical characterization of the idea of preferences, without a lengthy or complicated treatment of utility theory.
Fans of Austrian economics know that it is in general non-mathematical, and so this book offers a nice and light hypothesis on how a mathematical treatment of preferences might be handled.
Well done.
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