New: stigler

leguna (78)in economy • 4 years ago
Income-price-cost to explain change in "tastes" - not ultimate tastes.
Probably not new. The famous article, 'De Gustibus non est Disputandum' by George Stigler and Gary Becker (SG) uses the idea in a very different way from the way that Austrians would use it. For…
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Income-price-cost to explain change in "tastes" - not ultimate tastes.