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Why People Pay Higher Prices for Some Goods Relative to Others
Manage episode 451071132 series 2663738
One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory.
Original article: Why People Pay Higher Prices for Some Goods Relative to Others
1392 episodes
Manage episode 451071132 series 2663738
One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory.
Original article: Why People Pay Higher Prices for Some Goods Relative to Others
1392 episodes
All episodes
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