Search results for "Indifference curve"
showing 3 items of 3 documents
On the imprecision of consumer's spatial preferences
1978
Faced with a set of needs of different intensities and which he perceives more or less indistinctly, a consumer is not normally capable of selecting among the elements belonging to his set of possible consumptions, those he prefers or is indifferent to and those from which he is likely to derive utility. Moreover the goods and services are attainable to different degrees (available in supply space) and his knowledge is perfect only in border-line cases with the result that his world is generally imprecise. Even someone with an exceptional gift for discrimination is not capable of formulating for any pair of goods, his preference or indifference according to binary logic. The purpose of this…
Institutional Arrangements Matter for Both Efficiency and Distribution: Contributions and Challenges of the New Institutional Economics
2011
Are scholars in the New Institutional Economics tradition systematically disregarding distributive aspects when approaching policy issues as was the case during the 1970s and 1980s? Do economic and political agents usually care about distribution too? To provide an answer to these questions is the basic purpose of this chapter. The analysis carried out demonstrates that not all NIE oriented scholars disregard distributive issues. Some contributions are examined as examples, mainly in the so-called political economy branch of NIE. By means of a well-known graphical tool, the chapter also emphasizes that all of us clearly care about distribution, not just about efficiency, when participating …
Serving God in a largely theocratic society: rivalry and cooperation between Church and King
2009
Theocracy may be understood in different ways. The meaning mostly used is government by priesthood but we may call that “ecclesiocracy” or “hierocracy.” Here, theocracy will designate government according to God’s prescriptions and wishes—with the specification that the implementation or satisfaction of these prescriptions and wishes should be a public or political rather than a private affair and should involve some degree of coercion. The two meanings are different notably because, in the second, priests need not be the ones, or the only ones, who rule on God’s behalf.