Showing 1 - 10 of 10
The Prospect Theory proposes to assess outcomes relative to a reference point (or benchmark). Although the literature recognises the relevance of dynamic benchmarks, most of the applications of Prospect Theory employ static reference points (or a status quo). This paper aims to develop a...
Persistent link: https://www.econbiz.de/10003904295
This paper critically analyses the strongly subjectivist approach to exploitation theory recently proposed by Matsuo ([7]), in the context of general convex economies with heterogeneous agents. It is proved that the Fundamental Marxian Theorem is not preserved in his subjectivist approach,...
Persistent link: https://www.econbiz.de/10003933905
Persistent link: https://www.econbiz.de/10003697167
Persistent link: https://www.econbiz.de/10010489156
This paper tries to clarify the logical structure of the relationship between labour values and prices from an axiomatic perspective. The famous 'transformation problem' is interpreted as an impossibility result for a specific interpretation of value theory based on specific assumptions and...
Persistent link: https://www.econbiz.de/10011596404
Persistent link: https://www.econbiz.de/10000045457
We propose a simple theory of predatory pricing, based on scale economies and sequential buyers (or markets). The entrant (or prey) needs to reach a critical scale to be successful. The incumbent (or predator) is ready to make losses on earlier buyers so as to deprive the prey of the scale it...
Persistent link: https://www.econbiz.de/10008702303
Persistent link: https://www.econbiz.de/10000914459
Persistent link: https://www.econbiz.de/10000914503
Persistent link: https://www.econbiz.de/10011776050