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An analysis of Chapter 5 of Carl Menger's 'Principles of Economics' reveals the originality in his approach to market economics. Among the topics addressed are his methodologies, notions of equilibrium, the formation of product prices in a decentralized economy, competition among buyers for a single unit of a monopolizing good, active monopoly pricing and full competition with special reference to seller's competition. Menger's analysis of price formation is unique as he ignores the Walarasian assumption of interdependence of markets and analyzes price in a single market.

Transactors and markets can be studied in both anthropology and economics, and interdisciplinary studies could provide a new view of higgling. Higgling originated as the process of bargaining in a marketplace, but its application in economics is limited. Anthropology can make greater use of higgling because the list of bargainer qualities is open-ended. However, theoretical and methodological differences between anthropology and economics make interdisciplinary work a difficult prospect.

American institutionalist economists have critiqued market transactions since the 19th century, and this reflects upon the concept of higgling. Higgling originated as the process of bargaining in a marketplace, and some economists have expanded it to cover modern institutional systems. However, critics such as Thorstein Veblen and John R. Commons found flaws in markets. Veblen debunked the idea of natural equilibrium arising in markets, while Commons' transaction basis included other factors in negotiations.

Jean-Baptiste Say's analysis of markets indicates a rejection of higgling as a useful concept for modern economics. Higgling originated as the process of bargaining in a marketplace, and some economists have expanded it to cover modern institutional systems. However, Say found that markets clear under perfect freedom, due to competition of supply and demand. Higgling would be an indication of disequilibrium or social disorder.

The sales techniques and social aspects of street merchants known as pitchers can be contrasted and compared to higgling. Higgling originated as the process of bargaining in a marketplace, and some economists have studied it. Pitchers have been studied from a sociological perspective. They are European or British primarily, and they use extensive crowd patter. Techniques include audience participation and humor, to sell items such as housewares and toys. Similarities and differences from higgling exist.

Higgling has been studied by experiments in both economics and social psychology, in the form of bargaining by two persons. The concept of higgling originated as the process of bargaining in a marketplace, and the adoption of game theory into economics spurred experiments on it. However, economics studies have uncovered divergent factors outside of traditional theory, while psychological studies have also produced varied conclusions.

Frank Knight's economic theories of exchange behavior were a critique of neoclassicism which bear upon higgling. Higgling originated as the process of bargaining in a marketplace, and some economists have expanded it to cover modern institutional systems. However, Knight found that the classical economic man did not higgle, but rather acted in a market as if in a game. He sought to focus the maximizing behavior of neoclassicism so that good qualities such as sportsmanship could emerge .

Higgling has been studied in economic anthropology, and this approach could improve its understanding in economics. Higgling originated as the process of bargaining in a marketplace, and some economists have studied it. However, the anthropologists Marshall Sahlins and Bronislaw Malinowski conceived it as exchange and barter. Malinowski published some of his work in the 1920s, while Sahlins has published on higgling since 1969.

John Bates Clark was an American economist who relied upon morality as a criterion for analysis of the marketplace. This is illustrated by his critique of higgling. Higgling originated as the process of bargaining in a marketplace, and some economists have expanded it to cover modern institutional systems. However, Clark emphasized that mutual advantage was the proper goal of exchange, thereby placing justice above price.

John Maynard Keynes' analysis of financial markets came in part from personal experience and study of market psychology. He was an observer and participant in the markets, but he also read economics literature on speculation in market exchanges. He incorporated his understanding of psychology into his book 'The General Theory of Employment, Interest and Money.' Scholars have missed these sources of Keynes' thinking.

William Thornton's support of higgling inspired many 19th century economists to develop ideas of supply and demand as a critical response. His 1869 book 'On Labour' rejected natural laws for price determination, and he noted the influence of factors such as higgling. Higgling originated as the process of bargaining in a marketplace. However, the law of supply and demand was favored by such men as H.C. Jenkin and W. Stanley Jevons.

Higgling is a temporary, irrelevant effect in the transition to a market economy, and this is reflected in the economic writings of David Hume. Higgling originated as the process of bargaining in a marketplace, and some economists have expanded it to cover modern institutional systems. However, Hume shows markets involve stable values such as the keeping of promises. Market contracts are a significant aspect of Hume's work, which scholars have overlooked.

Higgling, or bargaining in the marketplace, has been a marginal topic in economics books, and this illustrates the importance of language use in economic thinking. Although higgling could be viewed as a central concept for markets, different meanings have been ascribed to it in varying contexts. For example, Adam Smith mentioned it as a value measure in the early parts of his book 'The Wealth of Nations', but others viewed it as a process for creating value.

The short selling of commodity shares in 17th century Holland illustrates some of the problems with a view of higgling as a stable market function. Short selling got out of control, with ethical lapses, duplicity and public outrage expressed in publications. Legal regulatory actions resulted. Contrary to some modern views of higgling, the bargaining process by itself did not lead to fair and honest prices for supply and demand.

Higgling, or bargaining in the market, can be viewed as the main social communication process of a money economy, and this view is reflected in German writings on money from 1900 to 1945. This theory of higgling requires the communication abilities of self-reference and self-reproduction, besides self-observation. German writings cover these aspects, predominantly self-reference. Examples occur in Josef Schumpeter's and Georg Simmel's works.

The economic market has developed over history, and its distributive and allocative functions may be less relevant in modern times. The concept of higgling has been taken from the bargaining process of personal buying and selling in ancient marketplaces, and adopted into theory as a function of modern markets. Ancient Greeks, Romans, and 18th and 17th century English had legal and ethical standards of higgling. However, higgling may not have broader market importance today.