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Property and Prices - Andre Burgstaller

Hardcover Published: 27th January 1995
ISBN: 9780521419031
Number Of Pages: 256

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This book provides the missing theoretical link between Sraffa's Production of Commodities by Means of Commodities and Debreu's Theory of Value. Its thesis is that both classical and neoclassical value theory operate through arbitrage and speculation in the financial markets. Key among those markets is the bourse or stock market. Once a stock market is incorporated into general-equilibrium theory, the classical analysis of value (a la Ricardo, Marx and Sraffa) and the neoclassical theory of price (descending from Walras, Hicks and Arrow-Debreu) can be seen to possess the same mathematical structure. Thus the modern theory of arbitrage pricing in financial markets is capable of bringing together the two great rival schools of economic thought.

Reproducible Resources
A basics-only economy
Stockmarket arbitrage, intertemporal price coordination, and the Arrow-Debreu model: some theoretical issues
Other Von Neumann models: basics and nonbasics
Marx-Sraffa: labor and the struggle over the surplus
Primary Resources: 5. Ricardo: basics, nonbasics and land
Ramsey-Slow-Uwaza: basics, nonbasics and primary labor
Walras and capital: basics-only economies with multiple primary resources
Walras and exchange: nonbasics only economies with multiple primary resources
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521419031
ISBN-10: 0521419034
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 256
Published: 27th January 1995
Country of Publication: GB
Dimensions (cm): 22.86 x 15.24  x 1.6
Weight (kg): 0.51

Earn 444 Qantas Points
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