Re: [OPE-L] The Use-Value & SNLT Question

From: Allin Cottrell (cottrell@WFU.EDU)
Date: Tue Apr 10 2007 - 13:28:22 EDT

On Tue, 10 Apr 2007, Michael Perelman wrote:

> If market prices are good enough to measure value, why not just
> use market prices & forget about value?

To even arrive at the idea that "market prices are good enough to
measure value", it is necessary to calculate values independently.

Then, if it turns out (as it does) that the two are pretty close,
one can indeed use prices as a reasonable approximation to values
for empirical purposes.

Or didn't I understand your question?


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