Economic essays (part one): toward a realistic concept of choice
These essays were originally drafted 30 years ago between 1988 and 1990, and then they were filed away and rediscovered just this year. They represented an attempt to offer a simple and unadorned version of fundamental issues in economics pertaining to our urgent need for a realistic concept of choi...
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Editura ASE Bucuresti
2019
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oai:doaj.org-article:bd574f3f153349c985f46b1faa8097722021-12-02T12:04:17ZEconomic essays (part one): toward a realistic concept of choice1843-22981844-8208https://doaj.org/article/bd574f3f153349c985f46b1faa8097722019-11-01T00:00:00Z https://jpe.ro/pdf.php?id=8546 https://doaj.org/toc/1843-2298https://doaj.org/toc/1844-8208These essays were originally drafted 30 years ago between 1988 and 1990, and then they were filed away and rediscovered just this year. They represented an attempt to offer a simple and unadorned version of fundamental issues in economics pertaining to our urgent need for a realistic concept of choice on which to found our constructions. The first essay introduces the notion of ‘opportunity cost’ and our use of caeteris paribus in the process of partial analysis. The second essay offers two metaphors for economic behavior: the ‘neighborhood store’ where virtually all neoclassical choice occurs; and the ‘chessboard’ that opens three issues simply ignored in orthodox settings. The third essay addresses the problem of interdependence, since choice in this setting confronts our range of awareness as bounded where outcomes spread forever with externalities everywhere, ruling out additivity.Frederic B. Jennings Jr.Editura ASE Bucurestiarticlechoicecostneoclassicalcompetitionethicsplanning horizonsEconomics as a scienceHB71-74DEENFRJournal of Philosophical Economics, Vol XIII, Iss 1, Pp 65-105 (2019) |
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DE EN FR |
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choice cost neoclassical competition ethics planning horizons Economics as a science HB71-74 |
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choice cost neoclassical competition ethics planning horizons Economics as a science HB71-74 Frederic B. Jennings Jr. Economic essays (part one): toward a realistic concept of choice |
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These essays were originally drafted 30 years ago between 1988 and 1990, and then they were filed away and rediscovered just this year. They represented an attempt to offer a simple and unadorned version of fundamental issues in economics pertaining to our urgent need for a realistic concept of choice on which to found our constructions. The first essay introduces the notion of ‘opportunity cost’ and our use of caeteris paribus in the process of partial analysis. The second essay offers two metaphors for economic behavior: the ‘neighborhood store’ where virtually all neoclassical choice occurs; and the ‘chessboard’ that opens three issues simply ignored in orthodox settings. The third essay addresses the problem of interdependence, since choice in this setting confronts our range of awareness as bounded where outcomes spread forever with externalities everywhere, ruling out additivity. |
| format |
article |
| author |
Frederic B. Jennings Jr. |
| author_facet |
Frederic B. Jennings Jr. |
| author_sort |
Frederic B. Jennings Jr. |
| title |
Economic essays (part one): toward a realistic concept of choice |
| title_short |
Economic essays (part one): toward a realistic concept of choice |
| title_full |
Economic essays (part one): toward a realistic concept of choice |
| title_fullStr |
Economic essays (part one): toward a realistic concept of choice |
| title_full_unstemmed |
Economic essays (part one): toward a realistic concept of choice |
| title_sort |
economic essays (part one): toward a realistic concept of choice |
| publisher |
Editura ASE Bucuresti |
| publishDate |
2019 |
| url |
https://doaj.org/article/bd574f3f153349c985f46b1faa809772 |
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AT fredericbjenningsjr economicessayspartonetowardarealisticconceptofchoice |
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