Chapter

Sraffa's Prices

S. N. Afriat

in Logic of Choice and Economic Theory

Published in print November 1987 | ISBN: 9780198284611
Published online November 2003 | e-ISBN: 9780191595844 | DOI: http://dx.doi.org/10.1093/0198284616.003.0021
 Sraffa's Prices

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This is the fourth of six chapters on the logic of price and discusses ‘Sraffa's prices’. These represent another understanding about ‘price’ that joins with the centuries‐old discourse about ‘value’ having no obvious connection with market price. However, on the surface are issues to do with the consistency of the arithmetic involved, which can be investigated straightforwardly. The seven sections of the chapter are: production for subsistence; interdependence and stability; production with a surplus; joint production; variable activity; Sraffa and Leontief; and Sraffa and von Neumann.

Keywords: joint production; Leontief; market price; price; production; Sraffa; Sraffa's prices; subsistence; surplus production; value; von Neumann

Chapter.  7382 words. 

Subjects: Microeconomics

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