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? Allin.
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