Accounting Measurement and Economic Value By Roger Willett
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Accounting Measurement and Economic Value By Roger Willett

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Pages
315
File size
10.75 MB
Format
Digital PDF
Category
eBook[PDF]
About this ebook
Accounting Measurement and Economic Value by Roger J. Willett bridges the gap between accounting, economics, and the philosophy of science to establish a rigorous, formal measurement system for economic value. Published by World Scientific, the text rejects traditional utility-based and decision-theory frameworks. Instead, it uses observable accounting procedures to build a reliable empirical backbone for economic modeling. [1]
Main Core Sections
The book is structured into major thematic sections including: [1]
  • Perspectives: Theories and Models
  • Axiomatic Theories
  • Measurement Theory
  • Measurement in Economics
Key Topics and Concepts Covered
  • Representational Theory of Measurement: Grounding accounting practices in formal measurement science to ensure data consistency and accuracy. [1]
  • Observable Accounting Procedures: Focusing heavily on observable data points like activity costs, transaction prices, and physical quantities. [1]
  • Rejection of Utility-Based Valuation: Arguing against subjective utility and decision-theory approaches in favor of objective, procedural tracking. [1]
  • Flow of Rights and Resources: Tracing how legal rights and physical/financial resources move through monetary economies. [1]
  • Ratio-Scaled Values: Building additive, ratio-scaled numbers that work seamlessly in both microeconomic and macroeconomic analysis. [1]
  • Falsifiable Economic Hypotheses: Creating a framework that allows economic models to be tested empirically and replicated reliably. [1]
  • Empirical Backbone for Economic Models: Demonstrating how financial accounting data can validate broader economic theories and information systems. [1]

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Topics

AI Gold-Rush Economics atio-Scaled Values: Building additive ratio-scaled numbers Axiomatic Theories for accounting economics Empirical Backbone for Economic Models Falsifiable Economic Hypotheses Flow of Rights and Resources Measurement in Economics accounting Observable Accounting Procedures Perspectives: Theories and Models accounting economics Rejection of Utility-Based Valuation Representational Theory of Measurement: Grounding accounting practices
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