Authors: Blair D. Macdonald
Fractal geometry is found universally and is said to be one of the best descriptions of our reality – from clouds and trees, to market price behaviour. As a fractal structure emerges – the repeating of a simple rule – it appears to share direct properties familiar to classical economics, including production, consumption, and equilibrium. This paper was an investigation into whether the mathematical principles behind ‘the market’ – known as marginalism – is an aspect or manifestation of a fractal geometry or attractor. Total and marginal areas (assumed to stand for utility) and the cost of production were graphed as the fractal grew and compared to a classical interpretation of diminishing marginal utility theory, and the market supply and demand. PED and PES was also calculated and analysed with respect to (iteration) time and decay. It was found the fractal attractor demonstrates properties and best models classical economic theory and from this it was deduced the market is a fractal attractor phenomenon where all properties are inextricably linked. The fractal, at equilibrium, appears to be a convergent – zeta function – series, able to be described by Fourier analysis, and involves Pi, i, e, 0, and 1 (of Euler’s identity) in one model. It also demonstrated growth, development, evolution and Say’s Law – production before consumption. Insights from the fractal on knowledge and knowing are also revealed, with implications on the question of what exactly is ‘science’ – and what is ‘art’? A connect between reality and quantum mechanics was identified. It was concluded marginal, classical economics is an aspect of a universal fractal geometry.
Comments: 56 Pages.
[v1] 2017-04-11 02:59:06
Unique-IP document downloads: 50 times
Vixra.org is a pre-print repository rather than a journal. Articles hosted may not yet have been verified by peer-review and should be treated as preliminary. In particular, anything that appears to include financial or legal advice or proposed medical treatments should be treated with due caution. Vixra.org will not be responsible for any consequences of actions that result from any form of use of any documents on this website.
Add your own feedback and questions here:
You are equally welcome to be positive or negative about any paper but please be polite. If you are being critical you must mention at least one specific error, otherwise your comment will be deleted as unhelpful.