The difficulties of the classical and Marxian labor theory of value are overcome when labor value is understood as marginal labor value analogously to marginal cost. Marginal labor value is the ...

The theorem implies that once ownership is established for such a resource, an efficient allocation will be established in the resulting market if transaction costs are ignorable. This paper shows ...

Merton, Robert C. "An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees : An Application of Modern Option Pricing Theory." Journal of Banking & Finance 1 (June 1977): 3–11.