Fundamental Mathematical Analysis of Transaction-based Law and Economics
Investigating the base ground of economic growth as a mathematical model is an essential economic issue. Every economic entity does economic behaviors to maximize its goal, total utility, in a given time. By bringing out the premises of the game theory, market participants, transactions, and market entities-related agents are defined. Next, concerning the general regional economy, the transaction model in the market participants could be set. And finally, a law and economics notion to set a model of economic growth would be drawn.
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ORCID of Submitting Author0000-0001-9610-0994
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- Korea, Republic of (South Korea)