Quarterly Journal of Austrian Economics

Facebook icon
LinkedIn icon
Twitter icon
A
A
Home | Mises Library | A Praxeological Assessment of Subjective Value

A Praxeological Assessment of Subjective Value

  • The Quarterly Journal of Austrian Economics
0 Views

Tags SubjectivismValue and Exchange

07/30/2014Marian Eabrasu

Volume 14, Number 2; Summer 2011

 

This paper deals with the meaning and the limits of the subjective theory of value. Economists deploy this theory in such various areas as utility, marginalism, knowledge and expectations . Yet, despite its wide spread use in economics, the meaning of subjective value remains equivocal and imprecise. This paper seeks to provide a more accurate praxeological interpretation of subjective value by anchoring it on preferences that are effectively demonstrated in action. This praxeological approach appears to be particularly pertinent for explaining the misuses of subjectivism in relation to utility and marginalism, and in showing the limits of various attempts to extend subjectivism to knowledge and expectations.

Cite This Article

Eabrasu, Marian.  "A Praxeological Assessment of Subjective Value."  The Quarterly Journal of Austrian Economics 14, No. 2 (Summer 2011): 216-241.

Shield icon interview