----------------- HES POSTING -----------------
Great riddles. Yuri, some months ago I posted a query about Irving
Fisher. Can I infer from your comment you may be something of a
Fisher scholar? The query was to understand a definition of value,
attributed to Fisher, as "the present worth of future benefits." I have
been challenged after relying on the definition that it is circular, using
value as a function of value. I have responded that my understanding is
that PW is a function of value - reflecting the time value of money - and
value a function of benefits and how they are defined and counted. Are
you aware if the attribution is correct or if Fisher elaborated?
Scott Cullen
------------ FOOTER TO HES POSTING ------------
For information, send the message "info HES" to [log in to unmask]