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Cognition, Value, and Price

Henry K. H. Woo

4.9/5 (10580 ratings)

Description:Economists since Smith, Marx, and Mill have been preoccupied with the concept of price and price formation. Because prices reflect individuals' preferences, price formation is intimately tied to value formation. But, Henry Woo argues, modern economics has severed the link between price and value, on the grounds that they become one and the same in a perfectly competitive market, and value can therefore be excluded from economic discourse. Woo steadfastly opposes this reductionist approach, charging that it fails to explain many complex aspects of present-day consumption. Cognition, Value, and Price restores the important link between price and value. By setting out a more general theory of value--one that ties together price theory and value formation--Woo can explain the characteristic features of the modern consumption economy that have eluded many modern economists. He accounts, among other things, for the extensive use of advertisement and marketing, the less-than-fully-rational behaviors of the modern consumer, the orientation toward nonprice factors in competition among suppliers. Central to Woo's explanation is the problem of cognition: how the architecture and evolution of the mind affect human value formation, consumer behavior, and consumer rationality. Woo's comprehensive critique of heterodox economics schools is sure to spark a lively debate among economists and among scholars concerned with questions of value and rationality in sociology, philosophy, and political science.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Cognition, Value, and Price. To get started finding Cognition, Value, and Price, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Pages: 204

Format: PDF, EPUB & Kindle Edition

Publisher: —

Release: 1992

ISBN: WhO8AAAAIAAJ

Description: Economists since Smith, Marx, and Mill have been preoccupied with the concept of price and price formation. Because prices reflect individuals' preferences, price formation is intimately tied to value formation. But, Henry Woo argues, modern economics has severed the link between price and value, on the grounds that they become one and the same in a perfectly competitive market, and value can therefore be excluded from economic discourse. Woo steadfastly opposes this reductionist approach, charging that it fails to explain many complex aspects of present-day consumption. Cognition, Value, and Price restores the important link between price and value. By setting out a more general theory of value--one that ties together price theory and value formation--Woo can explain the characteristic features of the modern consumption economy that have eluded many modern economists. He accounts, among other things, for the extensive use of advertisement and marketing, the less-than-fully-rational behaviors of the modern consumer, the orientation toward nonprice factors in competition among suppliers. Central to Woo's explanation is the problem of cognition: how the architecture and evolution of the mind affect human value formation, consumer behavior, and consumer rationality. Woo's comprehensive critique of heterodox economics schools is sure to spark a lively debate among economists and among scholars concerned with questions of value and rationality in sociology, philosophy, and political science.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Cognition, Value, and Price. To get started finding Cognition, Value, and Price, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Cognition, Value, and Price

Cognition, Value, and Price

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