Logo
Munich Personal RePEc Archive

The Logic of Value and the Value of Logic

Kakarot-Handtke, Egmont (2014): The Logic of Value and the Value of Logic.

[thumbnail of MPRA_paper_53877.pdf]
Preview
PDF
MPRA_paper_53877.pdf

Download (156kB) | Preview

Abstract

Jevons composed his value theory of nonenties. These creatures are elusive. Subsequent formal refinements did not eliminate the fundamental flaw but made it only harder to detect. A vacuous formal structure is one that cannot be interpreted in some domain. For want of any correspondence in the monetary economy, Jevons’s approach could not produce viable results. Roughly speaking, Jevons made value dependent on subjective factors. This paper gives a rigorous formal proof that value is determined by objective conditions. Within the structural-axiomatic framework there is no formal spare room for the major behavioral nonentities utility, optimization, rational expectations, and equilibrium.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.