Psychology Dictionary of ArgumentsHome
| |||
|
| |||
| Value theory: Value theory explores how economic value is determined, whether by subjective preferences (as in neoclassical economics), labor inputs (as in classical economics), or other factors. See also Labour, Price._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Concept | Summary/Quotes | Sources |
|---|---|---|---|
|
Neoclassical Economics on Value Theory - Dictionary of Arguments
Mause I 53f Value theory/Neoclassics: neoclassic theory, especially consumer theory, is based on subjective value theory, i.e. the assumption that the value of a good depends exclusively on its subjectively perceived benefit. Thesis of decreasing marginal utility: see Marginal Utility/Neoclassic theories. The marginal utility compensation law implies that the exchange value, i.e. the price of a good, is determined by the marginal utility, i.e. the marginal utility value. In this way, the famous value paradox could be solved, which says that important and useful goods (such as water) can be much cheaper than unimportant goods of little use (such as diamonds). Since the marginal utility determines the price and that decreases with the increase in the available quantity, very useful goods can also be cheap if they are abundant, or less useful goods can be expensive if they are rare._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Neoclassical Economics Mause I Karsten Mause Christian Müller Klaus Schubert, Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018 |
||
> Counter arguments against Neoclassical Economics
> Counter arguments in relation to Value Theory
