System of mathematical models of value (methodology, theory, agricultural applications)
Microeconomics from EconWPA
The model of exchanges in a competitive economy is developed that is based on an economic agent model who maximises the levels of satisfying his demands. The existence of a weak tendency to formation of value is shown. The interrelation between value and (a) technologies, (b) shadow prices in basic microeconomic models is studied by means of balance systems formalism. The role of preferences in value formation is argued to be smaller than it is commonly acknowledged. The demographical and teleological determinants of value are identified and studied. It is shown that the pure market does not guarantee the correspondence of value ratios to the teleological determinant. One of the consequences is too low values of labour and of agricultural production in Russia, a shortage of short-term capital on agricultural firms. The solutions are discussed that allow overcoming the negative impact of this shortage.
Keywords: value; microeconomics; systems analysis; reciprocity theorem; balance systems; turnover assets; agriculture (search for similar items in EconPapers)
JEL-codes: D46 C60 Q10 (search for similar items in EconPapers)
Date: 2002-04-23, Revised 2002-05-09
Note: Type of Document - pdf; pages: 200 ; figures: included.
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpmi:0204003
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