Abstract

MONTOYA RESTREPO, Iván A  and  MONTOYA RESTREPO, Luz Alexandra. A PROPOSAL OF A GENERAL CLASSIC EQUILIBRIUM OF PRICES WITH CIRCULATING CAPITAL SUBJECT TO OFFER DIFFERENT QUALITIES. rev. econ. Caribe [online]. 2015, n.15, pp.183-200. ISSN 2011-2106.

This paper seeks to suggest a contribution to propose a classical general equilibrium system of prices with circulating capital to be expected to offer different qualities, by including probabilities for the inputs can come effectively to the development of products. Its background contributions came from Sraffa's contribution (I960), Cuevas (2001), Montoya and Montoya (2005), and Montoya and Montoya (2007). The paper resumes the main contributions leading to a system like the one proposed, then seeks to introduce in the analysis the problem of considering the qualities, inspired by Von Neumann- Morgenstern's utility function used in information economics, and finally insinuates a proposal and sets out briefly the main implications of the same.

Keywords : classical economics; circulating capital; price formation.

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