Re: [OPE] Dimensional analysis of price-value correspondence: a sp urious case of spurious correlation

Me too,

Thanks

Peter

Dr Peter Fleissner

o.Univ.Prof.i.R. Univ.Doz Dipl.Ing.

Jakschgasse 12/3

A-1140 Wien, Austria

Tel: +43 1 5041190

Mobile: + 43 (0) 676 9308906

 <http://members.chello.at/gre/fleissner/default.htm>
http://members.chello.at/gre/fleissner/default.htm

Von: ope-bounces@lists.csuchico.edu [mailto:ope-bounces@lists.csuchico.edu]
Im Auftrag von Paul Cockshott
Gesendet: Sonntag, 17. Oktober 2010 15:50
An: Alejandro Valle Baeza; Outline on Political Economy mailing list
Betreff: Re: [OPE] Dimensional analysis of price-value correspondence: a sp
urious case of spurious correlation

I would be very interested in seeing it.
 
--- original message ---
From: "Alejandro Valle Baeza" <valle@servidor.unam.mx>
Subject: [OPE] Dimensional analysis of price-value correspondence: a
spurious case of spurious correlation
Date: 17th October 2010
Time: 1:35:28 pm
 

"No agreement has been reached as to what labor theory of value is (Foley,
2000), Itoh, 1988; Kliman, 2006; Laibman, 1992 and Mohun, 2000).
Paradoxically there are empirical studies showing strong association between
labor values and market prices. Such works could inject new energy into
Marxist theory of value; nevertheless some critics have questioned such
empirical findings because: a) there is a problem of spurious correlation
involved, and b) measures of association vary with changes in the physical
units of the analyzed merchandises. We shall see that in this discussion
there is a difficulty stemming from the definition of the problem as well as
the question of the dimension of the mathematical models used. My main
conclusions state that critics are wrong, and empirical studies are solid
enough. These conclusions will be supported by two reasons: a) the existence
of a spurious correlation does not apply to this problem according to the
dimensional analysis, so well known in natural sciences, but seldom applied
in economical problems; and b) dimensional analysis is essential to
adequately pose the price-value association problem and thus to obtain
measures that do not change with modifications of units of measurement."

This quote is from my forthcoming paper:
"Dimensional analysis of price-value correspondence: a spurious case of
spurious correlation" Investigación económica, vol. LXIX, 274,
octubre-diciembre de 2010, pp. ¿¿-??

The paper will be published in English and I will send a copy to any body
interested on it

Alejandro Valle Baeza

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The University of Glasgow, charity number SC004401

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Received on Mon Oct 18 05:10:30 2010