| Autor: |
Yoshinori Shiozawa, Masashi Morioka, Kazuhisa Taniguchi |
| Rok vydání: |
2019 |
| Předmět: |
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| Zdroj: |
Microfoundations of Evolutionary Economics ISBN: 9784431552666 |
| Popis: |
This chapter considers buying and selling transactions and arbitrage based on the Principle of Exchange and the Equivalence Relation. Since money has emerged and price can be observed objectively, buying and selling can be conducted by referring to objective indexes. In this instance, “evaluation” has to be explicitly distinguished from prices. It is important for executing buying and selling transactions that there be a different “evaluation” formed by each buying party and selling party. Arbitrage is defined as the use of differences in exchange rates to earn a profit. Presenting specific cases with respect to these phenomena, this chapter considers the stability and instability of prices in financial markets and product markets based on the formation of “evaluations” and the function of arbitrage. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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