Subjective Value and Market Prices

Jeffrey Herbener explains how Austrian price theory reveals the logic of voluntary exchange and subjective value, and why market prices emerge not from production costs, but from personal preferences and economizing choices.

Recorded at the Mises Institute in Auburn, Alabama, on July 21, 2025.

Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.