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Logic of Choice and Economic Theory$
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S. N. Afriat

Print publication date: 1987

Print ISBN-13: 9780198284611

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198284616.001.0001

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Sraffa's Prices

Sraffa's Prices

(p.289) IV.4 Sraffa's Prices
Logic of Choice and Economic Theory

S. N. Afriat

Oxford University Press

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

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