The pure arbitrageur

Arbitrageur is the agent in the role of discovering the opportunity for arbitrage. It is him who decodes an up-to-now non-apparent cheaper homogeneous good into an apparent one. In order to do so, he might have to look through transformations in time, place, and material manufacture as productive stages yet to be accomplished; but, to be sure, the arbitrageur qua arbitrageur doesn't produce. He just fore-sees the opportunity to buy cheap and sell dear.

The three stages for advancing the praxeologic science

First definition. Then explanation. At last (only at last), debate.

Traders in money

Since we accept money because of its exchange value, we are traders in money.

Statitistics: a way of dealing with ignorance

For an agent, random is any occurrence such that he doesn't definitely understand its causes.