The AXEC Paradigm replaces conventional approaches. The significant distinction is that conventional approaches are subjective-behavioral while the AXEC paradigm is objective-structural. Behavioral second-guessing is trapped in a cul-de-sac, therefore it can safely be left behind.
An explanation of the first three axioms and their economic implications is, for a start, provided with the working paper
Geometrical Exposition of Structural Axiomatic Economics
Download the paper from the open-access Social Science Research Network SSRN or, for more details about how the market system works, alternatively, download
Economics for Economists
® The AXEC axiom set and its logical implications are protected by copyright/trademark. When you plan to apply it to the solution of theoretical and practical problems or on any other occasion whatever in order to generate income, profit, benefits, social improvements (public, private), scientific reputation, or public attention please send first a notification to permission@axec.de. The protection embraces all forms of practical application/implementation (print, simulation, video, audio, model, lecture, chart, website, blog, regulation, algorithms, etc). Students are entitled to use the objective-structural-systemic axiom set or a subset thereof for research and education without prior notification and are exempt from user fees. See also Legal.
All working papers and published articles are available on the open-access repository SSRN. Working papers are subject to continuous fine-tuning, stylistic improvements, and expansion. AXEC is an open project: just the elementary implications of the structural axioms are known at this early stage.
The elementary implications are adequate to refute conventional approaches on purely formal grounds. This settles matters because inconsistency is indefensible.
Behavior-free structural-systemic axioms in combination with the behavioral propensity function open up a comprehensive perspective, that is, establish a new economic paradigm.