IDEAS home Printed from https://ideas.repec.org/p/osf/osfxxx/5t2hg.html
   My bibliography  Save this paper

The principle of commodity utility and its equations

Author

Listed:
  • Cheng, jinjun
  • dian, cheng

Abstract

"Das Kapital" points out that commoditieshave two attributes of value and use value at the same time,and describe both qualitatively rather than quantitatively. Theutility of commodities fundamentally comes from thefunctional attributes of natural things, and must rely on theuse value of commodities to play its role. People's behaviorof buying goods is based on the evaluation of the utility ofgoods when making the decision to buy goods. The processof evaluating the utility of a commodity when making adecision to buy it is essentially a process of comparing theirlabor efforts and obtaining happiness in their heart. Theequation of utility is: U= (1 / P) (Pm / W); the unit ofmeasurement is named "Om" (symbol in Sanskrit ॐ), is thereciprocal of the monetary unit "Tarrant" (symbol).Commodity utility theory of value and commodity labortheory of value are unified through the utility equation.

Suggested Citation

  • Cheng, jinjun & dian, cheng, 2023. "The principle of commodity utility and its equations," OSF Preprints 5t2hg, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:5t2hg
    DOI: 10.31219/osf.io/5t2hg
    as

    Download full text from publisher

    File URL: https://osf.io/download/64fabb65989de63ac6dd16c1/
    Download Restriction: no
    File URL: https://libkey.io/10.31219/osf.io/5t2hg?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:osf:osfxxx:5t2hg. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: OSF (email available below). General contact details of provider: https://osf.io/preprints/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.