Appelt, Katarzyna (2021) Is utility a measure of commodity value? On two different approaches to the subjective theory of value. THEORY METHODOLOGY PRACTICE: CLUB OF ECONOMICS IN MISKOLC, 17 (1). pp. 27-30. ISSN 1589-3413 (print); 2415-9883 (online)
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Official URL: https://doi.org/10.18096/TMP.2021.02.03
Abstract
This paper reviews two theories of utility. In Jevons’ theory, utility denotes an abstract quality of a commodity and value is derived from the knowledge of the utility of a commodity. Menger, however, argued that the concept of value cannot be associated with the fact that things are useful. Goods themselves are worthless unless a human assigns value to them. It is shown that utility as a measure of commodity value is a vague concept.
| Item Type: | Article |
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| Subjects: | H Social Sciences / társadalomtudományok > HB Economic Theory / közgazdaságtudomány |
| Depositing User: | Andrea Tankó |
| Date Deposited: | 21 Jan 2022 10:47 |
| Last Modified: | 21 Jan 2022 10:47 |
| URI: | http://real.mtak.hu/id/eprint/136355 |
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