PCT Economic Building block

CSGnet Archive CSG2011
1

( Gavin
Ritz 2011.08.01.15.48NZT)

I have given the basic PCT
economic building block some thought; here is my first shot at it.

I have made some assumptions
that are the categories on the top of the diagram. (see below). That is all
objects have been created with a purpose, so ships, lamps, cars, road aggregate,
wall boards, paint, anything I have classed as an object. (To be more or less
in line with conceptual mathematics).

Further the object has
cost and cost plus. Cost plus is more or less equal to Price. The value part is
the subjective part that is internal. That is some internal standard. (unknown)

The controlled variable
for each person is the difference between each persons own internal standard
and the object cost plus. (Price). So an internal standard must dominate each
person for an agreement to be reached on price. This will only happen if say Value
(B) is larger than price (for that person).

So the Controlled variable
is an interval between the internal standard (V) and an external disturbance. §
in this case. V>=P

So in other words when
both agree on price Va will more or less be equal to Vb a sort of meeting of
minds.

I have not shown the
means in this case. (Output variables), I have tried to sort of include that in
the drawing as objections and justifications. But this is another issue (or is
it?)

Comments

Regards

Gavin

Attractors.jpg

···
2

[Shannon Williams (2011.08.01.1500 CST)]

(Gavin Ritz 2011.08.01.15.48NZT)

That is all objects have been created with a purpose, so ships, lamps, cars, road aggregate, wall boards, paint, anything I have classed as an object.

OK. And I would say services are done with a purpose too. I would say that the modelling difference between an object and a service (not a coupon for theses things- the actual things), is that some objects might have some a non-zero property values. for example, a non-zero re-sell value.

The value part is the subjective part that is internal. That is some internal standard. (unknown)

This is where PCT comes in. PCT can be used to code when someone will desire a milkshake, or when they will change their mind and spend that money on a sympathy card.

So in other words when both agree on price Va will more or less be equal to Vb a sort of meeting of minds.

OK. The ‘behavior’ in this case is that one person offers more and the other requires less until there comes a point that exchange occures.

I have not shown the means in this case. (Output variables), I have tried to sort of include that in the drawing as objections and justifications. But this is another issue (or is it?)

Cool. I hope that Bill, And Rick, and Adam, and anyone else will soon start weighing in with their opinions and their own examples. I would like to open an Economics Model - Project Task list thread that lists the mundane tasks needed to build the Application. My real work will be light for the next couple of months. I plan to devote a lot of time to this project.

Thanks,

Shannon

http://my.barackobama.com/page/outreach/dashboard/2012/Thanksgiving2022

Attractors.jpg

···

3

[Shannon Williams (2011.08.03.1400 CST)]

[Martin Lewitt 2011 Aug 3 1159 MDT]

In economics the distinction between an object and a service is not that great. The value of an object is due to the value of the service it provides, an auto provides transportation, a washing machine eases clothes washing, art does something to the brain that it values. etc.

OK. Maybe we don’t need it in the first model.

Have you acquired this data yet, because if there is any distinction between standard rational actor/subjective theory of value , one would think that it is in such details. Is the historical data available for your attempts to model the late 1920s and early 30s?

I have not looked. do you have something in mind? I am focussed on identifying the bricks and mortar right now. It would be cool if you could find something.

Thanks,

Shannon

4

[Martin Lewitt 2011 Aug 3 1159 MDT]

[Shannon Williams (2011.08.01.1500 CST)]

(Gavin Ritz 2011.08.01.15.48NZT)

                That is all objects have been

created with a purpose, so ships, lamps, cars, road
aggregate, wall boards, paint, anything I have
classed as an object.

      OK.  And I would say services are done with a purpose

too. I would say that the modelling difference between an
object and a service (not a coupon for theses things- the
actual things), is that some objects might have some a
non-zero property values. for example, a non-zero re-sell
value.

In economics the distinction between an object and a service is not

that great. The value of an object is due to the value of the
service it provides, an auto provides transportation, a washing
machine eases clothes washing, art does something to the brain that
it values. etc.

                The value part is the

subjective part that is internal. That is some
internal standard. (unknown)

      This is where PCT comes in.  PCT can be used to code when

someone will desire a milkshake, or when they will change
their mind and spend that money on a sympathy card.

Have you acquired this data yet, because if there is any distinction

between standard rational actor/subjective theory of value , one
would think that it is in such details. Is the historical data
available for your attempts to model the late 1920s and early 30s?

-- Martin L

(Attachment Re PCT Economic Building block.jpg is missing)

···

On 8/1/2011 1:35 PM, Shannon Williams wrote:

                So in other words when both

agree on price Va will more or less be equal to Vb a
sort of meeting of minds.

      OK.  The 'behavior' in this case is that one person offers

more and the other requires less until there comes a point
that exchange occures.

                I have not shown the means in

this case. (Output variables), I have tried to sort
of include that in the drawing as objections and
justifications. But this is another issue (or is
it?)

      Cool.  I hope that Bill, And Rick, and Adam, and anyone

else will soon start weighing in with their opinions and their
own examples. I would like to open an Economics Model -
Project Task list thread that lists the mundane tasks needed
to build the Application. My real work will be light for the
next couple of months. I plan to devote a lot of time to this
project.

Thanks,

Shannon

http://my.barackobama.com/page/outreach/dashboard/2012/Thanksgiving2022