[OPE-L:3324] Re: Re: Re: Re: Measurement of value

From: Michael Perelman (michael@ecst.csuchico.edu)
Date: Wed May 24 2000 - 17:59:45 EDT

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Dear Patrick,

With what I can have put much faith with in of the kind of measurement that I
think you're suggesting. Just think about the sort of measurement problems that
Robert Gordon has been harping on the regarding the computer sector. The issue of
is not so much a matter of aggregation but the flow of capital value to the
production of computers and into the value of the products to which the computers

"Patrick L. Mason" wrote:

> Mike,
> Back-of-the-envelop techniques are to be preferred to sophisticated
> techniques? Why? Moreover, one person's back-of-the-envelop is another
> person's sophisticated technique. Techniques have to be selected on the
> basis of their appropriateness for the problem at hand. In any case, the
> real empirical issue I-O systems measure of value isn't technique, but the
> algorithm for industry aggregation.

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321 E-Mail michael@ecst.csuchico.edu

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