Time preferences of goods value consumer

Authors

  • Konstantin Matusevich Rivne State Humanitarian University, Ukraine

DOI:

https://doi.org/10.33987/vsed.1(62).2017.9-14

Keywords:

goods time preferences, value of goods, prices of goods, loan interest, price of capital

Abstract

Development and application of goods «time preferences» concept in the economic theory are considered in the article. Mechanism of goods time preferences influence on formation of value in use that is value of these goods and relevant market-based pricing were studied. Overcoming artificial identification of goods value and cost concepts was proposed. It is shown that theoretical basis of goods time preferences have positive impact in goods use value theory cognition as well as in understanding of market-based pricing subjective factors and pricing mechanism.

Author Biography

Konstantin Matusevich, Rivne State Humanitarian University

PhD in Economics, Associate Professor, Department of Economic Theory

References

Rotbard, M. N. (2004). Time preference [Vremennoe predpochtenie], Ekonomicheskaya teoriya, INFRA-M, Moskva, s. 827–833 [in Russian]

Gordon, B. (1975). Economic analysis before Adam Smith: Hesiod to Lessius, New York: Barnes & Noble.

Kauder, E. (1965). A history of Marginal Utility Theory. Princeton: Princeton University Press.

Monroe, A. (1924). Early economic thought, Cambridge, Mass.: Harvard University Press.

Turgot, A. R. J. (1977). The economics of A. R. J. Turgot. Ed. by P. D. Groenewegen, The Hague: Martinus Nijhoff.

Wicksell, K. (1958). Bohm-Bawerk’s theory of interest. In K. Wicksell, Selected papers on economic theory. Ed. by E. Lindahl, Cambridge, Mass.: Harvard University Press.

Longfield, S. M. (1971). The economic writings of Mountifort Longfield. Ed. by R. D. C. Black, Clifton, NJ: Augustus M. Kelley.

Rae, J. (1965). Some new principles on the subject of political economy. In John Rae: Political Economist. Ed. by R. W. James, Toronto: University of Toronto Press.

Menger, C. (1950). Principles of economics. Ed. by J. Dingwall and B. Hoselitz, Glencoc. Ill.: Free Press.

Wicksell, K. (1958). The new edition of Menger’s Grundsadze. In K. Wicksell, Selected papers on economic theory. Ed. by E. Lindahl, Cambridge, Mass.: Harvard University Press.

Bohm-Bawerk, E. (1959). Kapital ind kapitalzins. Zweite Abteilung: Positive theorie des kapitales. 4th ed. Trans. by G. D. Huncke as Capital and Interest, Vol. I and II, South Holland, Ill.: Libertarian Press.

Fisher, I. (1954). The theory of interest, New York: Kellev & Millman.

Fetter, F. A. (1977). Capital, interest and rent: essays in the theory of distribution. Ed. by M. Rothbard, Kansas City: Sheed Andrews and McMeel.

Mises, L. (1966). Human Action: A Treatise on Economics. 3rd revised ed., Chicago: Regnery.

Published

2017-03-19

Issue

Section

Economic theory and history of economic thought