Carl Menger
In economics, the theory of imputation, first expounded by Carl Menger, maintains that factor prices are determined by output prices (i.e. the value of factors of production is the individual contribution of each in the final product, but its value is the value of the last contributed to the final product (the marginal utility before reaching the point Pareto optimal). Thus, Friedrich von Wieser identified a flaw in the theory of imputation as expounded by his teacher, Carl Menger: overvaluation may occur if one is confronted with economies where profits jump (maximums and minimums in his utility function, where its first derivative equals 0). Wieser thus suggested as an alternative the simultaneous solution of a system of industrial equations: