Value pp 1-4 | Cite as


  • Michael Allingham


Value, according to the Oxford dictionary is ‘the amount … for which a thing can be exchanged’; in other words, value is the price which prevails in the market, or equilibrium price. In this book I discuss what determines value in this sense, or, to be more concrete, why wheat is more valuable than oats (bushel for bushel).


Equilibrium Price Market Mechanism Economic Equilibrium Full Equilibrium Logical Question 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Michael Allingham 1983

Authors and Affiliations

  • Michael Allingham
    • 1
  1. 1.University of KentUK

Personalised recommendations