The exponential rings and fields are usually studied as structures with two binary operations $(+,\cdot)$ and one unary operation $\exp(x)$ defined on a set $K$. Why not consider the exponential as a binary operation $\star : K\times K\rightarrow K\;,\quad x\star y=x^y$ and search for properties of a structure with three binary operations with suitable axioms? There is some subtle ''obstruction'' to study such kind of structures?
PS. I tag as a soft question because I search for a not too tecnical answer ( if possible).
Added one month after. This question gained some reputation, but no answers nor comments. I read this result as : " the question seems interesting, but it's too hazy to talk about it". So I report here some my work, with the aim to better define the question.
The structure that i'm searching is $(E,+,\cdot,\star)$ where E is a not void set and:
Axiom 1) $(E,+,\cdot)$ is a ring with a multiplicative identity $1$. We assume that this ring has caracteristic $0$. (This in fact is a list of axioms).
In this ring we adopt the usual notations for $n\in \mathbb{N}$: $nx$ is the sum of $n$ identical elements and $x^n$ is the product of $n$ identical elements.
The binary operation $\star: E \times E \rightarrow E$ is such that, $ \forall x,y,z, \in E$ ve have:
Axiom 2) $\quad x\star (y+z)=(x\star y) \cdot (x\star z) $
From this we have : $x\star(ny)=(x \star y)^n$
Axiom 3) $\quad (x \cdot y)\star z= (x \star z) \cdot (y \star z) $
Axiom 4a) $ \quad 0 \star x=0 \qquad \forall x \in E$
Axiom 4b) $ \quad \forall x \ne 0 \Rightarrow \exists y \in E$ such that $x \star y \ne 0$
Axiom 4c) $ \quad \forall x\ne 1_E \Rightarrow \exists y \in E$ such that $x \star y \ne 1_E$
where $1_E$ is the neutral element of the product. These last two axioms are introduced to avoid triviality.
From these axioms we can proof some simple proposition, as:
Prop.1) $ \forall x,y,z, \in E$ we have:$(x\star y) \cdot (x\star z)=(x\star z) \cdot (x\star y)$.
Prop.2) $\forall x \in E$, if $(1_E-x\star 0)$ is a right zero divisor than it is also a left zero divisor and $x\star y$ is a zero divisor for all $y \in E$. If $(1_E-x\star 0)$ is not a zero divisor than $x \star 0=1 \; \forall x \in E$.
Prop.3) If $(1_E-x\star 0)$ is not a zero divisor the set $ R_x=\{y : \exists z \in E \rightarrow y=x \star z\}$ is a group under ring multiplication.
Prop 4) $\forall y \in E$, if $(1_E-1_E\star y)$ is a right zero divisor than it is also a left zero divisor and $x\star y$ is a zero divisor for all $x \in E$.
Prop. 5) If $(E,+,\cdot)$ is a division ring than $R=\bigcup_x R_x$ is a group under multiplication with $1_E$ as neutral element.
I stop here(for now). So my question is if these axioms are sufficient to define a ''nice'' structure, and if this approach can be interesting. Since my knowledge of universal algebra and category theory are very poor, I don't know if all this work has a sense, or if there are general results that can be used or that show that eventually this is an impasse.