{"title":"The Logic of Market and the Value of Stability","authors":"Yirui Wang","doi":"10.2139/ssrn.3500598","DOIUrl":null,"url":null,"abstract":"Supply curve should be created from buyers’ view, and demand curve should be created from sellers’ view. Producers are joints of supply and demand, not products. Producers make their decisions based on average profits, not marginal profits. Producers will tolerate lower profit rate in a stable market than in a fluctuate market, which leads to lower unemployment. This is the value of stability.","PeriodicalId":11757,"journal":{"name":"ERN: Other Microeconomics: General Equilibrium & Disequilibrium Models of Financial Markets (Topic)","volume":"17 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2019-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ERN: Other Microeconomics: General Equilibrium & Disequilibrium Models of Financial Markets (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3500598","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
Supply curve should be created from buyers’ view, and demand curve should be created from sellers’ view. Producers are joints of supply and demand, not products. Producers make their decisions based on average profits, not marginal profits. Producers will tolerate lower profit rate in a stable market than in a fluctuate market, which leads to lower unemployment. This is the value of stability.
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