About “Value and Capital”
Value and Capital: An Inquiry Into Some Fundamental Principles of Economic Theory is a 1939 book by British economist John Richard Hicks. It is a foundational work in microeconomic theory. The book extends consumer theory to explain individual and market equilibrium, using only ordinal utility to avoid the need for comparing utilities between individuals. It analyzes the effects of price changes in a two-good model and extends this analysis to any number of goods. The work also covers production theory and expands general equilibrium theory, distinguishing between temporary and long-run equilibrium by considering agents' expectations. (Summary adapted from Wikipedia, CC BY-SA 4.0.)
Book details
- Published
- 1975
- ISBN
- 9780198282693
Frequently asked questions
How many pages is Value and Capital?
Value and Capital by Sir John Richard Hicks has 352 pages.
Some summaries adapted from Wikipedia, CC BY-SA 4.0.