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Documents Cardinal utility

1. Assumptions of Utility  Rational consumer  Cardinal utility  Divisibility  Independent utility  Diminishing Marginal Utility 2. Concepts of Utility On the…

Documents Chapter 5 Choice

Chapter 5 Choice Economic Rationality The principal behavioral postulate is that a decisionmaker chooses his most preferred alternative from those available to him. The available…

Documents ERE4: Efficiency, optimality, market failure & public policy

ERE4: Efficiency, optimality, market failure & public policy Efficiency and optimality Static efficiency Optimality Dynamic efficiency and optimality Market efficiency…

Documents Discussion of „The Bond Premium in a DSGE Model with Long-Run Real and Nominal Risks”

Discussion of âThe Bond Premium in a DSGE Model with Long-Run Real and Nominal Risksâ * David Vestin* Monetary and Economic Department * Views expressed are those of the…