SSRN Author: Dimitrios NomidisDimitrios Nomidis SSRN Content
https://privwww.ssrn.com/author=2246677
https://privwww.ssrn.com/rss/en-usSat, 24 Jul 2021 01:16:29 GMTeditor@ssrn.com (Editor)Sat, 24 Jul 2021 01:16:29 GMTwebmaster@ssrn.com (WebMaster)SSRN RSS Generator 1.0REVISION: The Mathematical Mistakes of the Neoclassical Theory and its ReformationThis paper completes my previous paper "A Revision of the Theory of Perfect Competition and of Value" with a more global analysis of the mathematical mistakes of the neoclassical theory. During the second half of the twentieth century Microeconomic theory moved increasingly away from price theory, which was gradually displaced by more modern trends such as game theory, behavioral-empirical-experimental economics, industrial organization, neuroeconomics, heterodox economics, etc. This was due to serious shortcomings and (mathematical) mistakes of the traditional theory that is based on Neoclassical economics. The most obvious of those mistakes is that the equilibrium point does not maximize the profits of firms, as they are maximized at the intersection of total supply (marginal cost according to neoclassicals) with the marginal revenue from the total demand and not with the total demand itself as neoclassicals argue. The correction of those mistakes entails dramatic changes in the ...
https://privwww.ssrn.com/abstract=3694459
https://privwww.ssrn.com/2044765.htmlFri, 23 Jul 2021 13:14:34 GMTREVISION: A Revision of the Theory of Perfect Competition and of ValueDuring the second half of the twentieth century economic theory moved increasingly away from price theory, which was gradually displaced by more modern trends such as game theory, decision theory, behavioral-empirical-experimental economics, heterodox economics, etc. This was due to serious weaknesses and mistakes of the traditional theory of perfect competition and of value. The correction of those mistakes entails dramatic changes in the classic theory's fundamental outcomes concerning perfect competition, price determination, social welfare, and other major fields of economics. This also results in an integrated theory in which market functions, regardless of the number of firms, i.e. from monopoly to perfect competition. But, most importantly, by this revision traditional price theory regains its self-efficiency, prestige, and dominant position in economics.
https://privwww.ssrn.com/abstract=2875582
https://privwww.ssrn.com/2044757.htmlFri, 23 Jul 2021 13:00:53 GMTREVISION: The Tragic Mistakes of the Economic Theory Still Being Taught in UniversitiesConventional microeconomic theory, founded and developed mainly by the neoclassical economists, contains some fundamental mistakes that lead economic theory to erroneous conclusions about how the economy operates and the results of this operation. Unfortunately, those mistakes have still remained after the neoclassical synthesis that came through the merger of Neoclassical and Keynesian economics (mainstream economics) and they are still taught in universities to this day. The correction of those mistakes brings about dramatic changes in the economic theory concerning price theory, perfect competition, income distribution, social welfare, and other major fields of economics. Below a brief analysis of those mistakes and an attempt to detect their probable causes is made. Also, a brief account of the dramatic changes brought about by the correction of these mistakes in the economic theory with their social and political implications is presented.
https://privwww.ssrn.com/abstract=3362956
https://privwww.ssrn.com/2044753.htmlFri, 23 Jul 2021 12:58:49 GMTNew: Η Ανατροπή της Νεοκλασικής Θεωρίας μέσω των Ιδίων της Μέσων (The Disproof of Neoclassical Theory by means of Its Own Means)<b>Greek abstract:</b> Η μέχρι τώρα έρευνά μου που αποκαλύπτει θεμελιώδη λάθη της συμβατικής (νεοκλασικής) οικονομικής θεωρίας, βασίζεται κυρίως στη (λανθασμένη) αντίληψη της θεωρίας αυτής για το price taking και την οριζόντια καμπύλης ζήτησης της επιχείρησης, χρησιμοποιώντας αντ' αυτής την σωστή ατομική καμπύλη ζήτησης της επιχείρησης, που είναι κεκλιμένη και ίση με την συνολική ζήτηση διαιρεμένη δια του αριθμού των επιχειρήσεων για κάθε τιμή. Παρά τη μεγάλη αναγνωσιμότητα και το ζωηρό ακαδημαϊκό ενδιαφέρον που έχουν προκαλέσει τα σχετικά άρθρα μου, αντιλαμβάνομαι κάποιες δυσκολίες σχετικά με την αποδοχή της αναθεωρημένης θεωρίας και ίσως ακόμη και την κατανόησή της, λόγω φυσιολογικού εθισμού και προσκόλλησης στην παραδοσιακή θεωρία και τη μεθοδολογία της. Αυτό το άρθρο, ωστόσο, καταδεικνύει τα λάθη αυτά της συμβατικής θεωρίας χρησιμοποιώντας τη μεθοδολογία της ίδιας της συμβατικής θεωρίας, χωρίς να εμπλέκεται στο αμφιλεγόμενο ζήτημα της οριζόντιας ή κεκλιμένης καμπύλης ζήτησης της ...
https://privwww.ssrn.com/abstract=3747000
https://privwww.ssrn.com/1980020.htmlTue, 12 Jan 2021 16:41:38 GMTNew: The Disproof of Neoclassical Theory by Means of Its Own MeansMy research so far, which reveals fundamental mistakes of the conventional (neoclassical) economic theory, is based mainly on the (wrong) perception of this theory for the price taking and the horizontal demand curve for the firm, using instead the correct individual demand curve for the firm, which is sloping and equal to the total demand divided by the number of firms for each price. Despite the great readability and vivid academic interest that my relevant papers have caused, I feel some difficulties regarding the acceptance of the revised theory and perhaps even its understanding, due to physiological addiction and adherence to traditional theory and methodology. This article, however, demonstrates these mistakes of conventional theory by using the methodology of the conventional theory itself, without getting involved in the controversial issue of the horizontal or sloping demand curve for the firm.
https://privwww.ssrn.com/abstract=3745905
https://privwww.ssrn.com/1973405.htmlFri, 18 Dec 2020 16:43:25 GMTREVISION: The Mathematical Mistakes of the Neoclassical Theory and its ReformationThis paper completes my previous paper "A Revision of the Theory of Perfect Competition and of Value" with a more global analysis of the mathematical mistakes of the neoclassical theory. During the second half of the twentieth century Microeconomic theory moved increasingly away from price theory, which was gradually displaced by more modern trends such as game theory, behavioral-empirical-experimental economics, industrial organization, neuroeconomics, heterodox economics, etc. This was due to serious shortcomings and (mathematical) mistakes of the traditional theory that is based on Neoclassical economics. The most obvious of those mistakes is that the equilibrium point does not maximize the profits of firms, as they are maximized at the intersection of total supply (marginal cost according to neoclassicals) with the marginal revenue from the total demand and not with the total demand itself as neoclassicals argue. The correction of those mistakes entails dramatic changes in the ...
https://privwww.ssrn.com/abstract=3694459
https://privwww.ssrn.com/1962165.htmlMon, 16 Nov 2020 11:04:34 GMTREVISION: The Mathematical Mistakes of the Neoclassical Theory and its ReformationThis paper completes my previous paper "A Revision of the Theory of Perfect Competition and of Value" with a more global analysis of the mathematical mistakes of the neoclassical theory. During the second half of the twentieth century Microeconomic theory moved increasingly away from price theory, which was gradually displaced by more modern trends such as game theory, behavioral-empirical-experimental economics, industrial organization, neuroeconomics, heterodox economics, etc. This was due to serious shortcomings and (mathematical) mistakes of the traditional theory that is based on Neoclassical economics. The correction of those mistakes entails dramatic changes in the Neoclassical theory and its fundamental outcomes, concerning perfect competition, price determination, value theory, income distribution, social welfare, and other major fields of economics. This reformation results also in an integrated theory in which market works, regardless of the number of firms, i.e. from ...
https://privwww.ssrn.com/abstract=3694459
https://privwww.ssrn.com/1945924.htmlTue, 29 Sep 2020 11:48:57 GMT