The uncertain moral context of price changes
AbstractThe purpose of this paper is to motivate a microeconomic model of consumption in which there is uncertainty that is not resolved ex post regarding the moral context of price changes. We show that neoclassical microeconomic theory can yield a result in which expected utility falls when a consumer who is sufficiently concerned for the uncertain moral context of production is faced with a falling price.
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Bibliographic InfoArticle provided by Elsevier in its journal Ecological Economics.
Volume (Year): 68 (2009)
Issue (Month): 4 (February)
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