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by praxeologist 4363 days ago
I think you are in a blind alley. Yes, there is a singular epistemological error underlying every flavor of mathematical, scientistic economics. There is no actual "equilibrium point" where some say and there's no "coefficient of human volition" that we can calculate decisions like we could calculate the path of an atom.

After about 100 years of trying economics this way, there is still nothing close to a model that has reliable predictive power as we would expect with other natural sciences using the hypothetico-deductive method. I advocate instead the axiomatic-deductive method of the Austrian School. If you like, here is more on why what you want to do doesn't work from von Mises: http://mises.org/daily/3540