Traditional economics assumes commodity is homogeneous, but in real world’s market, commodity is often heterogeneous in the objective characteristic or attribute, such as house is often heterogeneous in size, computer is often heterogeneous in CPU speed.We discovered, in real world’s market,...

Economists argue in perfectively competitive market at long run equilibrium, price is decided by one factor. We discovered and strictly proved, in perfective competitive market at long run equilibrium, price is decided by three factors

The paper built the basic theoretical model for urban house price, based on a marginal analysis of house market. The contributions are the three. (1) We discovered, in real world’s house market, there are three factors that strongly influence house price, and we show the reason. (2) We built a...

In real world market, there are two different types of consumer choice, choice between commodities that satisfy the same need, and, choice between commodities that satisfy different needs. The two types of consumer choice are different in consumer choice logic. Present consumer theory didn’t...