Diminishing marginal utility in economics textbooks

被引:6
|
作者
Dittmer, T [1 ]
机构
[1] Cent Washington Univ, Ellensburg, WA 98926 USA
来源
JOURNAL OF ECONOMIC EDUCATION | 2005年 / 36卷 / 04期
关键词
diminishing marginal utility; diminishing marginal value;
D O I
10.3200/JECE.36.4.391-399
中图分类号
F [经济];
学科分类号
02 ;
摘要
Many introductory microeconomics textbook authors derive the law of demand from the assumption of diminishing marginal utility. Authors of intermediate and graduate textbooks derive demand from diminishing marginal rate of Substitution and ordinal preferences. These approaches are not interchangeable; diminishing marginal utility for all goods is neither a necessary nor sufficient condition for diminishing marginal rate of Substitution, and the assumption of diminishing marginal utility is inconsistent with the assumption of ordinal preferences. In this article, the author argues that demand curves should not be derived from diminishing marginal utility in introductory textbooks and suggests that introductory text authors begin their treatment of demand with diminishing marginal value.
引用
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页码:391 / 399
页数:9
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