publication . Article . Other literature type . 1934

A Reconsideration of the Theory of Value. Part I

Hicks, J. R.; Allen, R. G. D.;
  • Published: 01 Feb 1934 Journal: Economica, volume 1, page 52 (issn: 0013-0427, Copyright policy)
  • Publisher: JSTOR
THE pure theory of exchange value, after a period of intensive study by economists of the generation of Jevons and Marshall, has received comparatively little attention from their successors in the twentieth century. Apart from some very interesting inquiries into what may be called the dynamics of the subject, due to contemporary writers of the school of Vienna,1 there has been only one major achievement in this field since I 900. That achievement was the work of Pareto, whose Manuel (and particularly its mathematical appendix) contains the most complete static theory of value which economic science has hitherto been able to produce. Of all Pareto's contributio...
free text keywords: Economics and Econometrics, Pareto principle, Microeconomics, Ordinal utility, Value theory, Economic science, Exchange value, Measure (mathematics), Static theory, Mathematical economics, Observable, Economics
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