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Property and Prices by Andre Burgstaller (2010, Trade Paperback)
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Property and Prices by Andre Burgstaller. Author Andre Burgstaller. Its thesis is that both classical and neoclassical value theory operate through arbitrage and speculation in the financial markets.
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About this product
Product Identifiers
PublisherCambridge University Press
ISBN-100521134064
ISBN-139780521134064
eBay Product ID (ePID)92579740
Product Key Features
Number of Pages256 Pages
LanguageEnglish
Publication NameProperty and Prices
SubjectEconomics / General, Investments & Securities / Stocks, Economics / Theory, Investments & Securities / General
Publication Year2010
TypeTextbook
Subject AreaBusiness & Economics
AuthorAndre Burgstaller
FormatTrade Paperback
Dimensions
Item Height0.6 in
Item Weight13.4 Oz
Item Length9 in
Item Width6 in
Additional Product Features
Intended AudienceScholarly & Professional
Dewey Edition22
IllustratedYes
Dewey Decimal333.332
Table Of ContentIntroduction; Part I. Reproducible Resources: 1. Von Neumann I: A basics-only economy; 2. Stockmarket arbitrage, intertemporal price coordination, and the Arrow-Debreu model: some theoretical issues; 3. Other Von Neumann models: basics and nonbasics; 4. Marx-Sraffa: labor and the struggle over the surplus; Part II. Primary Resources: 5. Ricardo: basics, nonbasics and land; 6. Ramsey-Slow-Uwaza: basics, nonbasics and primary labor; 7. Walras and capital: basics-only economies with multiple primary resources; 8. Walras and exchange: nonbasics only economies with multiple primary resources; Appendices.
SynopsisThis 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 (à 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 theory of arbitrage pricing in financial markets is capable of bringing together the two great rival schools of economic thought., Property and Prices shows arbitrage and speculation in the stockmarket to be a capitalist economy's most fundamental mechanism of price determination and resource allocation. Once a stockmarket 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. The modern theory of arbitrage pricing in financial markets thus is capable of bringing together the two great rival schools of economic thought., Property and Prices provides the missing theoretical link between Sraffa's Production of Commodities and Debreu's Theory of Value. It does so by placing arbitrage and speculation in the stock market at the centre of the theory of value and capital.
LC Classification NumberHB201.B863 2010
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