Demystifying Sraffa’s Theory of Value in the Light of Arrow and Debreu

concludes that (1) the models are informationally distinct conceptions of a capitalist economy, (2) they support radically distinct – though complete and entirely correct – theories of value, (3) the prices in the two theories are different both in terms of definitions and values, (4) in Sraffa‘s mo...

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書誌詳細
出版年:MAGKS - Joint Discussion Paper Series in Economics (Band 50-2011)
第一著者: Naqvi, Nadeem
フォーマット: 論文
言語:英語
出版事項: Philipps-Universität Marburg 2011
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その他の書誌記述
要約:concludes that (1) the models are informationally distinct conceptions of a capitalist economy, (2) they support radically distinct – though complete and entirely correct – theories of value, (3) the prices in the two theories are different both in terms of definitions and values, (4) in Sraffa‘s model it is impossible to define constant returns to scale, while in Arrow-Debreu this property is admissible, and (5) in Arrow-Debreu the interpersonal income distribution is determined whereas in Srafa‘s model the distribution of income between workers and capitalists is undetermined.
物理的記述:22 Seiten
ISSN:1867-3678
DOI:10.17192/es2024.0301