| 单词 | marginal utility |
| 例句 | We’d get back to our study of marginal utility another day. All American Boys 2015-09-29T00:00:00Z It appears this list of "Best" restaurants is directed at people whose marginal utility of an extra dollar is negligible, i.e., the very wealthy and those on expense accounts. The 10 Best New Restaurants of 2014 2014-12-26T05:00:00Z One example of this is marginal utility, a basic building block of modern economics that assumes all value derives from the wants of consumers. Can We Trust Economists? 2019-10-04T04:00:00Z And it has a marginal utility curve that only helps you so much. The 25-year-old billionaire building the future of self-driving cars 2021-03-02T05:00:00Z While the dispassionate, what-happened-yesterday, inverted-pyramid daily news story still has some marginal utility, it is mostly a throwback at this point — a relic of a daily product delivered on paper to a geographically limited community. Are we witnessing the final collapse of "objective" political reporting? Let's hope so 2020-08-03T04:00:00Z Are we reaching diminished marginal utility in many of these areas? Opinion | Don’t forget about our social progress 2019-01-03T05:00:00Z As a rule, if you’re looking to clear a room, you start talking about either the NHL or the law of diminished marginal utility. Perspective | The NHL is back and so are the surprisingly popular Golden Knights 2018-09-30T04:00:00Z The reason is the economic principle of diminishing marginal utility. Early Retirement in the N.F.L. and at Google, and the Paradox of Success 2015-03-11T04:00:00Z The marginal utility of sharing our resources with those who have little yields the highest potential for that resource and that person. The real meanings of Christmas 2014-12-23T05:00:00Z So, he decided that the marginal utility of each hour he spent partaking of the university's sports menu, at least time management wise, did not help close this gaping gap. Universities Sell 'Experiences' That Allow Fans to Connect Directly With Teams 2014-12-12T05:00:00Z The press coverage over a statement so obvious does demonstrate one thing, at least: diminishing marginal utility. Fed's Vice Chairman, Stanley Fischer, States the Obvious and Creates a Buzz 2014-08-11T04:00:00Z Because of diminishing marginal utility, people typically prefer a smooth path of consumption to one that jumps around. How Inherited Wealth Helps the Economy 2014-06-21T04:00:00Z For one thing the returns to factors of production go to owners of cheap labor, who have high marginal utilities of consumption. Labour markets: A theory of troubles 2014-02-17T09:36:58Z But, wow, does that marginal utility of an extra gallon skyrocket during a shortage. Water’s price trajectory quickly tops that of chainsaw after a hurricane. To End California Drought, Fill More Hollywood And Silicon Valley Swimming Pools 2014-01-18T19:30:00Z It may sound odd, but the key to dealing with marginal utility may very well be that we’ll enjoy more if we spend or do less. The Sketch Guy: How to React to Diminishing Returns 2013-12-16T21:50:40Z Which, even avoiding a discussion on declining marginal utility, makes absolutely no sense. New York City: You probably can't make it here 2013-08-30T16:25:33Z There’s a pricing mechanism that shadows the marginal utility curve. How The Marginal Utility Of Money Balances With Value 2013-08-05T15:19:00Z It was a thing of marginal utility, perhaps one of the most impractical of compact crossover utility wagons sold in the United States. Volkswagen Tiguan isn?t practical, but it?s a fun drive 2012-04-27T04:05:00Z On boring days when the swimming pool looks inviting, water’s total utility is high and “marginal utility” low compared to diamonds, as the old lesson in economics illustrates. To End California Drought, Fill More Hollywood And Silicon Valley Swimming Pools 2014-01-18T19:30:00Z Now if all these men were "normal" men, and if all had equal wealth, we could say here, marginal utility = value. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z Our value concept will fit perfectly with Professor J. B. Clark's "social marginal utility" theory of value. The Value of Money 2011-01-04T03:01:12.363Z So, the pricing curve for escort services looks just like the marginal utility of money curve: where utility always rises but more slowly as the price goes up. How The Marginal Utility Of Money Balances With Value 2013-08-05T15:19:00Z You can learn more about the way people really think and behave by reading Dickens or George Eliot than you can from ploughing through endless tracts analysing the marginal utility of consumers. Seasonal spending makes for merry Christmas ? but how happy will the new year be? 2010-12-27T00:02:01Z Politically motivated violence will persist and may in specific instances even retain marginal utility. The end of (military) history? 2010-07-29T15:45:00Z Economic value is not total utility to an individual, nor marginal utility to an individual, nor is it a mere ratio of exchange. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z A combination of the ideas of utility and scarcity gives us the simple notion for which the formidable name of "marginal utility" has been devised. The Value of Money 2011-01-04T03:01:12.363Z So, the pricing function has organically evolved to take advantage of the marginal utility of money. How The Marginal Utility Of Money Balances With Value 2013-08-05T15:19:00Z Having studied 298 killings or arrests of leaders from 1945 through 2004, Ms. Jordan concluded that “the marginal utility for decapitation is actually negative,” because martyrdom can actually rally the troops. The ?Wanted Dead? Option in the War on Terror 2010-05-01T19:12:00Z Or is the reigning Austrian economics profound in its reliance upon marginal utility? Creative Intelligence Essays in the Pragmatic Attitude In its most definite form, the theory asserts that the value of an economic good is determined by, and precisely accords with, the marginal utility of the good to society, considered as a unitary organism. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z The difference is that many text-books stop at this point, leaving the impression that with the definition of marginal utility the whole value problem has been solved. The Value of Money 2011-01-04T03:01:12.363Z That is, each one of us has a marginal utility curve, custom fitted to our own personal tastes. How The Marginal Utility Of Money Balances With Value 2013-08-05T15:19:00Z The garment as a whole is far from being a "marginal utility" to any one; and yet there is something in it that is so. Essentials of Economic Theory As Applied to Modern Problems of Industry and Public Policy Anderson finds the fatal flaw in the Austrian account to consist in the psychological particularism of the marginal utility theory. Creative Intelligence Essays in the Pragmatic Attitude And the Austrians, for their part, have rejected the conception that value and social marginal utility coincide, or that society, as an organic whole, puts a value on goods. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z For the social value theory, the conception of marginal utility is barely a starting point. The Value of Money 2011-01-04T03:01:12.363Z So where the marginal utility sinks slowly, it will pay to increase the supply and lower the price, for each fall of price will stimulate a large increase of consumption. The Evolution of Modern Capitalism A Study of Machine Production The relation is one which exists not between price and total utility, but between price and marginal utility. Supply and Demand The ratios are abstract ratios, between pure numbers, so far as the market ratios are concerned; the ratios in the mind of each individual are concrete ratios, between marginal utilities. The Value of Money 2011-01-04T03:01:12.363Z The most striking thing about this lecture, however, is its anticipation of Jevons's doctrine of marginal utility, and its emphasis upon the subjective character of value. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z For the explanation of the values of consumption goods, then, we need both the socially determined marginal utilities of individuals, and the socially determined weight which these individuals have in our economic system. The Value of Money 2011-01-04T03:01:12.363Z In such a situation, marginal utilities and market ratios are, in reality, alike resultants, effects, of the given quantities of goods, distribution of goods, numbers of buyers and sellers, and individual utility-curves—not marginal utilities. The Value of Money 2011-01-04T03:01:12.363Z But we do know that, when she buys 6 pounds, the marginal utility of sugar is in her judgment worth something which does not differ greatly from the price. Supply and Demand Kaufkraft, as Schumpeter uses the term, is not derived from marginal utility, but is an abstraction from the idea of money. The Value of Money 2011-01-04T03:01:12.363Z For Professor Seligman, on the other hand, value is a quantity of marginal utility. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z The man who goes into the modern stock market armed with marginal utility and the quantity theory is like the man who would fight Hindenburg with bows and arrows. The Value of Money 2011-01-04T03:01:12.363Z In the marginal utility scheme above outlined there is no place for money, on the assumptions laid down. The Value of Money 2011-01-04T03:01:12.363Z We can, therefore, say in general terms that the price of a commodity measures approximately its marginal utility to the purchaser. Supply and Demand The utilities which come into equilibrium are not subjective-exchange-values, which, as Schumpeter, with Wieser, contends, are the only subjective values money has, but are real subjective use values—marginal utilities. The Value of Money 2011-01-04T03:01:12.363Z Value is more than the total utility of a good, or the marginal utility of a good, to an individual, and it is more than a ratio of exchange. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z Bows and arrows are effective in the hands of expert archers, and the great figures in the history of economics have done wonderful things with marginal utility, "real costs," and the quantity theory. The Value of Money 2011-01-04T03:01:12.363Z This opens the way to a theory of the value of money based on marginal utility. The Value of Money 2011-01-04T03:01:12.363Z In other words, their marginal utilities are small, and it is only the marginal utility that has any relation to price. Supply and Demand Here the 'artificial' complications due to private property and to the difference between rich and poor are gone, and only 'marginal utility' is left as a regulator of values. The Value of Money 2011-01-04T03:01:12.363Z As phases in the "presuppositions" of economic value, then, coördinate with "marginal utility," our theory puts the legal and ethical values concerned with distribution, which rule in a community at a given time. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z The theory that individual marginal utilities and disutilities are proportional to market values is unrealistic enough, in the light of the analysis of individual utilities which we have given, even for the utilities. The Value of Money 2011-01-04T03:01:12.363Z As old wants are satisfied, new wants arise, so that, in the course of time, marginal utilities do not sink—the competition of new wants forces up the margins of the old wants. The Value of Money 2011-01-04T03:01:12.363Z But, one motor bicycle is as much as he is at all likely to buy, and what becomes, then, of the distinction between total and marginal utility? Supply and Demand But emphasis on these factors is not marginal utility theory! The Value of Money 2011-01-04T03:01:12.363Z Since value, as we know, is simply an expression for marginal utility, we cannot affirm that value in general ever increases or decreases. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z I have elsewhere criticised their confusion of demand-curves and utility-curves, and pointed out that marginal utility gives no explanation of demand. The Value of Money 2011-01-04T03:01:12.363Z The marginal utility of money is the utility of money in the marginal exchange—the exchange which would be effected by means of barter if money were any more difficult to procure. The Value of Money 2011-01-04T03:01:12.363Z How can we speak here with a straight face of the relation between marginal utility and price? Supply and Demand The marginal utility of money, thus, appears in separate services of money. The Value of Money 2011-01-04T03:01:12.363Z The term, "natural," has misled Wieser, when it leads him to say that marginal utility alone will rule. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z A good many writers have attempted to apply the marginal utility theory to the value of money. The Value of Money 2011-01-04T03:01:12.363Z I conclude that the marginal utility theory has not solved the problem of the value of money. The Value of Money 2011-01-04T03:01:12.363Z These are very pertinent criticisms; but they do not make nearly as much nonsense of the notion of marginal utility as may seem at first. Supply and Demand The marginal utility theory, in so far as it seeks to make marginal utility the cause of value, is circular. The Value of Money 2011-01-04T03:01:12.363Z Here the "artificial" complications due to private property and to the difference between rich and poor are gone, and only "marginal utility" is left as a regulator of values. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z The marginal utility theory is ordinarily merely a thinly disguised version of supply and demand doctrine. The Value of Money 2011-01-04T03:01:12.363Z But this is to explain value, not by marginal utility alone, but by value as well—a circle. The Value of Money 2011-01-04T03:01:12.363Z It is the utility which he derives that constitutes the marginal utility, which is roughly measured by the price. Supply and Demand Marginal utility is not a cause of market prices, but rather, marginal utilities and market prices are alike resultants, effects, of more fundamental factors. The Value of Money 2011-01-04T03:01:12.363Z And marginal utility is the total utility of the marginal unit consumed. Social Value A Study in Economic Theory Critical and Constructive 2011-11-19T03:00:28.253Z This contention, in Professor Fisher's view, precludes the application of the marginal utility theory to the problem of the value of money, and he makes no use of marginal utility in his explanation. The Value of Money 2011-01-04T03:01:12.363Z And value is not bound up inseparably with labor-pain or marginal utility. The Value of Money 2011-01-04T03:01:12.363Z When, therefore, it is said that the prices measure their respective marginal utilities, what exactly is meant? Supply and Demand We do not find the market-letter of a brokerage house, or the calculations of a captain of industry, or trust promoter, troubling themselves about marginal utilities or labor-pains! The Value of Money 2011-01-04T03:01:12.363Z That individual price-offer depends on the marginal utilities of alternative goods, in comparison with the marginal utility of the good in question, Davenport does emphasize. The Value of Money 2011-01-04T03:01:12.363Z Not all writers who contend that money has no utility per se, however, have felt it necessary to give up the marginal utility theory as a theory of money, as we shall later see. The Value of Money 2011-01-04T03:01:12.363Z He takes no account here of the complication that the third step is in large degree a comparison, not of marginal utilities proper, but rather, of "subjective values in exchange." The Value of Money 2011-01-04T03:01:12.363Z The respective marginal utilities which she obtains from the different things she buys will thus be proportionate to their prices. Supply and Demand His earlier chapters are given to showing how the individual adjusts himself to the market, bringing his "marginal utilities" of various goods into harmony with the market prices. The Value of Money 2011-01-04T03:01:12.363Z Here is the illicit leap from marginal demand price to marginal utility which all utility theorists make, sooner or later! The Value of Money 2011-01-04T03:01:12.363Z I do not believe that the marginal utility theory is valid for any class of goods, not even those for immediate consumption. The Value of Money 2011-01-04T03:01:12.363Z Social economic value does not rest on marginal utility. The Value of Money 2011-01-04T03:01:12.363Z The prices might not have changed; the respective marginal utilities to her of the different things would again be proportionate to their prices, but they would constitute a smaller satisfaction than before. Supply and Demand But in the case of the value of a money of the sort here considered, marginal utility is in no sense a cause of the value. The Value of Money 2011-01-04T03:01:12.363Z He commonly means by "Wert" merely subjective value, or marginal utility. The Value of Money 2011-01-04T03:01:12.363Z The value of money, thus defined, is to be explained by marginal utility. The Value of Money 2011-01-04T03:01:12.363Z Considerations of this sort strengthen still further the case against the marginal utility theory of value. The Value of Money 2011-01-04T03:01:12.363Z Thus we can only say that the prices of commodities will be proportionate to their real marginal utilities, when we are considering the different purchases of one and the same individual. Supply and Demand A commodity tends to be produced on a scale at which its marginal cost of production is equal to its marginal utility, as measured in terms of money, and both are equal to its price. Supply and Demand For, while it is impossible to separate out the total utility and cost of wool, it is not impossible to disentangle its marginal utility and its marginal cost. Supply and Demand The value of money depends, not on its subjective use-value, its own marginal utility—it has none. The Value of Money 2011-01-04T03:01:12.363Z For in either case the magnitude of the deduction depends on the marginal utility of the cotton-seed. Supply and Demand In the last chapter we examined the relation between utility and price, and found that the true relation was between the price and what we termed the marginal utility. Supply and Demand It is thus very difficult to assign to sewing cotton a specific marginal utility. Supply and Demand And the increment of utility which she derives from buying this marginal pound we call the "marginal utility" of sugar to her. Supply and Demand The value of money depends on its subjective value in exchange, the marginal utility of the goods which are exchanged for it. The Value of Money 2011-01-04T03:01:12.363Z The payments which they could have commanded in alternative employments, tend in their turn to equal the derived marginal utilities of their services in those employments. Supply and Demand |
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