Economic reasoning with demand and supply graphs

Ryo Takemura

Mathematical Social Sciences, 2020, vol. 103, issue C, 25-35

Abstract: We investigate an interaction between mathematical logic and economics by exploring a mathematical model of economic reasoning. To this purpose, we focus on economic reasoning with linear demand and supply graphs. Linear graphs have the following advantages: Linear graphs are easily constructed and reasoning using such graphs can be effectively managed; linear graphs are qualitatively determinate with respect to our problems. We investigate the types of problems regarding general demand and supply functions that can be reduced to linear graphs and discuss abductive reasoning with demand and supply graphs. Then, we propose a model of economic reasoning by formalizing reasoning with linear graphs in the framework of natural deduction developed through proof theory of mathematical logic.

Keywords: Mathematical logic; Economic reasoning; Demand and supply graph (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:matsoc:v:103:y:2020:i:c:p:25-35

DOI: 10.1016/j.mathsocsci.2019.11.001

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