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What is a Good?

Author

Listed:
  • C. William Maughan

    (School of Finance and Law, Bournemouth, University, UK)

  • Robert J. Townsley

    (Department of Agricultural Economics and Business, School of Applied and International Economics, Palmerston North, New Zealand)

Abstract

Definitions of goods and services (goods) in standard economic text-books are criticised. Clearer definitions are made by linking the concept of intrinsic properties of goods to consumer utility theory and to the reality of the market place by using Lancaster’s “characteristics space†, the beliefs and attitudes of economic agents, and the “rights to use†which are the basis of property rights. All classes of goods are defined and a consistent explanation of advertising and branding is offered.

Suggested Citation

  • C. William Maughan & Robert J. Townsley, 1999. "What is a Good?," Journal of Interdisciplinary Economics, , vol. 10(2), pages 91-105, April.
    • Handle: RePEc:sae:jinter:v:10:y:1999:i:2:p:91-105
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    File URL: http://jie.sagepub.com/content/10/2/91.abstract
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    Citations

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    Cited by:

    1. Don Fullerton & Inkee Hong & Gilbert E. Metcalf, 2001. "A Tax on Output of the Polluting Industry Is Not a Tax on Pollution: The Importance of Hitting the Target," NBER Chapters, in: Behavioral and Distributional Effects of Environmental Policy, pages 13-44, National Bureau of Economic Research, Inc.
    2. Eskeland, Gunnar S., 2000. "Environmental protection and optimal taxation," Policy Research Working Paper Series 2510, The World Bank.
    3. Lisandro Abrego & Carlo Perroni, 2002. "Investment subsidies and Time-Consistent Environmental Policy," Oxford Economic Papers, Oxford University Press, vol. 54(4), pages 617-635, October.
    4. Eskeland, Gunnar S., 2000. "Externalities and production efficiency," Policy Research Working Paper Series 2319, The World Bank.

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