Theory of Value

"[This] beautiful and austere book . . . [is] an important landmark of economic theory."—F.H. Hahn, Journal of Political Economy"An immortal classic of twentieth century economics. Every economist should own a copy."—Robert Lucas, University of ChicagoTheory of Value offers a rigorous, axiomatic, and formal analysis of producer behavior, consumer behavior, general equilibrium, and the optimality of the market mechanism for resource allocation.