1. Group 1
資科四 黃敬傑
經三甲 何牧寰
經三⼄乙 羅浩芸
經三⼄乙 彭剴意
經三⼄乙 鄭伊伶

2. Question

3. Explain how Menger’s theory of factor
imputation is consistent with the Austrian
view that utility, not input cost, is the source
of value.

4. Outline
Who’s Carl Menger?
What’s Austrian school?
What’s the common between Menger and
Austrian?

5. Who’s Carl Menger?

6. Carl Menger
1840 - 1921
Son of a lawyer
A professor
Principles of Economics

7. Menger’s Value Theory

9. Example

15. The Theory of Imputation
Emphasis on consumer demand.
Though only indirectly, intermediate
goods help to produce things also brings
utility.
The doctrine was an attack on real-cost
theory of value.

16. Austrian School

17. Outline
Considered that the value is determined
by subjective individual preference.
Asserted that economical decision is
rather individual than collective.
There is no objective exchange value,
because its root is bedded in the
subjective estimates of the individuals.

18. What’s the common between
Menger and Austrian

29. Austrian School

32. Price or value is determined by
the demand side.

33. Thank you