User:Jzliuyu

Mystery of Price

There are two doctrines about price. One is Marxian “Labour theory of Value”; the other is the theory “marginal utility” proposed by Carl Menger. Most of the research is confined to compare the differences between them. However, according to marginal utility theory, the utility of a commodity is a function of the quantity, which means U=F1(Q); while “Labour theory of Value” point out that the value of a commodity is determined by social labour time, that is U=F2(T). Because quantity is actually the function of time, Q=F3(T), therefore, P=F1(Q)=F1(F3(T))=F2(T). This shows that these two thoughts have intrinsic relation between them. If we can find the linkage between these two doctrines, we can completely understand the essence of price and the rule for its movement. Finally, Based on my analysis, I conclude a price function.

P=c+Vu×QD/QS

P-price; c-cost;Vu-value in use(use value); QD-quantity of demand, QS-quantity of supply.

Vu is a function of time, because the creation of use value need time. For most of manmade commodities,

Vu=K×T

K-a constant (within a certain time span, for long run, it will diminish to zero), T-Social labour time.

Therefore, both theories are correct, since they both describe price but from different angels.

关于价格的理论有两种，一种是马克思的“劳动价值论”；另外一种是奥地利学派的“边际效用理论”. 然而，对价格理论的研究常常限于对二者差异上的研究. 但是，实际上，二者之间是存在着一定的本质联系. 根据边际效用理论，商品的效用是该商品保有量的函数，即U= F1(Q)；而劳动价值论则指出商品的价值取决于社会必要劳动时间，U=F2(T). 但商品的保有量是时间的函数Q=F3(T)，所以P= F1(Q)= F1( F3(T))= F2(T). 二者从本质上看是相互兼容的. 因此，如果我们把这两种理论结合在一起，就能够真正的解释价格的实质及其运动规律. 根据我的分析，得出价格公式为

P=c+Vu×QD/QS

P-商品的价格；c-成本；Vu-商品的使用价值；QD-需求量；Qs-共给量.

Vu是时间的函数，这是因为使用价值的创造是需要时间的. 对于绝大多数产品，存在

Vu=K×T

K-在比较短的时间内近似的可以看成是个常数，通常随时间逐渐变小趋向于零. T-社会必要劳动时间.

因此，不论是劳动价值论还是边际效用都是正确的，只不过他们各自表述了价格的一个侧面.