Economic exchange a freiwilliger bartering is called, with which the Contracting Parties attach a different value in each case to the article of exchange and the agreed upon exchange price results as economic average value between supply and demand.

The economic exchange is thus always a business under the aspect of the reciprocity, with which the value of goods and services is determined on the basis an objective economic exchange value and independently of social connections or obligations. The Contracting Parties measure normally different values to the article of exchange out, depending upon point of view as offerers or Nachfrager. The value, that is a party the article of exchange measures out (limits) for those in each case different exchange party unknown.

Example: Anton possesses a cigar, which is worth for him as a nonsmoker 2 "€. A would not exchange thus below a value of 2"€. Bruno is smoker and knows therefore that Antons costs cigar in the shop 7 "€. B would offer thus to maximally 7 "€ for it. Since he knows not however, how much the cigar for Anton is worth, it offers 5 to it "€ for it. If Anton the trade agrees easily Feil, then from it an exchange advantage of 2 results "€ for Bruno and an exchange advantage of 3 "€ for Anton.

Because with the economic exchange both contracting parties have an exchange advantage, back exchange readiness insists on no page. Contrary to the equivalence exchange there is no being certain price with the economic exchange, but a being certain price interval, within whose the last-finite price moves. This price interval lies within the borders of the exchange readiness (limit) of offerer and Nachfrager. If the limit exceeds one that of the other one, therefore no exchange will come.

p: actual price; L_A: Limit of the offerer; L_N: Limit of the Nachfragers

Price interval: L_A \ le p \ le L_N

The price interval is unknown to both Tauschpartnern. To the price formation it comes by Feil. The two exchange parties try to get the larger piece of the unknown exchange advantage in each case tv.

entire exchange advantage: tv=L_N-L_A

Exchange advantage of the offerer: tv_A=p-L_A

Exchange advantage of the Nachfragers: tv_N=L_N-p

The actual price can be estimated by none of the two exchange parties. The optimum estimation (expectancy value) is the arithmetic means that of limit.

Expectancy value: ew= \ frac {1} {2} * \ left (L_N+L_A \ right)

The economic exchange today on a large scale at the stock exchanges one practices. Buyers and salesmen go with firm limit to the market (exceptions: Billgst= " buys at each price ", Bestens= " sells for each price "). In the place, in which supply and demand meet, the course of a paper forms. Who wants to exchange to this course, can exchange.

What has different value than we it (Troilos) - Shakespeare

Articles in category "Economic exchange"

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