Re: Seminar: HILBERT SPACE MODELS COMMODITY EXCHANGES by Paul Cockshott

From: Alejandro Valle Baeza (valle@SERVIDOR.UNAM.MX)
Date: Tue Sep 21 2004 - 14:18:51 EDT 





  
  






Paul Cockshott wrote:



  
  
  
  
 

  
Recently Steedman  (1998)
proposed to measure such deviations by the angle between market price
and value vectors, as pointed out by Cockshott.  Nobody
uses Euclidian distance to measure value-price deviation. Nevertheless
is not clear to me if according to Paul’s paper are all of them wrong?
Could Paul explain practical implications of his paper for measuring
labor value-price deviations?   

  
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I think that Steadman's measure
is probably wrong, and that mean absolute deviation

  
is a more appropriate measure. 

  
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This is very important to me because you are finding bases to intuitive
approaches  for measuring value price  deviations. Could you tell us
more about why MAD seems more convenient than angle proposed by
Steedman?



  

  
Alejandro Valle Baeza

  

  














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