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Prices and Production

Elements of a System-Theoretic Perspective

Albrecht Ritschl (Autor)

Buch | Softcover

X, 159 Seiten

1989
Physica (Verlag)
978-3-7908-0429-4 (ISBN)

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My original intention in writing this book was to consider evolving mar ket systems and Hayekian criteria of efficiency (see von Hayek (1931, 1945) ), and to discover those formal structures which might possibly lie at the base of economic systems capable of evolution. Much work in this field had already been done by others (see, for example, Kirzner (1975) and Nelson/Winter (1982) ), and a consensus seems to have been reached that something like system theory must be the logical point of departure for evolutionary theory in economics. But most of the previous work in this area is purely intuitive, and though there is much talk in it of systems and system theory, a precise definition of the concept of a system in this context is nowhere to be found. I had hoped to be able to sketch a working definition of pricing and production systems in a few pages and then to go on to investigate their performance within the framework of modern stability analysis. It soon became clear, however, that difficult and complex problems arise from the very outset of such an endeavor. If, for example, one speaks of dynamic systems of pricing and production, it should be made clear just how these systems differ from those portrayed in standard price theory and why that theory is inadequate for such analysis.

O. Introduction.- 1. Time in the Economic Equations of Prices and Production.- 1.1. Production Equations.- 1.2. Price Equations.- 2. The System of Economic Quantity and Price Equations.- 2.1. Quantity Equations.- 2.2. Price Equations.- 2.3. Some Amplifications of the System.- 3. Prices and Production in Economic Theory.- 3.0. Introduction.- 3.1. Simultaneous-Equations Systems.- 3.2. Difference Equation Systems.- 3.3. Conclusion (The Problem of Control II): The Generalized Transformation Problem of Value Theory.

Erscheint lt. Verlag	7.3.1989
Reihe/Serie	Contributions to Economics
Zusatzinfo	X, 159 p.
Verlagsort	Heidelberg
Sprache	englisch
Maße	170 x 244 mm
Gewicht	308 g
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
Schlagworte	Asia • Dynamics • Economic Theory • economy • Equilibrium • Foundation • General Equilibrium • growth • Marx • Production • Research • science and technology • Systems Theory • Transformation • Value-at-Risk
ISBN-10	3-7908-0429-0 / 3790804290
ISBN-13	978-3-7908-0429-4 / 9783790804294
Zustand	Neuware