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

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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Veröffentlicht in:MAGKS - Joint Discussion Paper Series in Economics (Band 50-2011)
1. Verfasser: Naqvi, Nadeem
Format: Artikel
Sprache:Englisch
Veröffentlicht: Philipps-Universität Marburg 2011
Schlagworte:
relations of production
income distribution
Wirtschaft
general equilibrium
exchange values
marginal product
capital
counterfactual information
theory of value
constant returns to scale
prices
Economics
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MAGKS - Joint Discussion Paper Series in Economics

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