There is a concept in economics called “indifference curves”. These are a graphical picture of combinations of goods that would leave the consumer indifferent between the different combinations. Are ...

[Students who have not studied economics may be unfamiliar with the core idea that Knetsch challenges in this selection, an idea that Coase implicitly embraced in The Problem of Social Cost. The MIT ...

The American Economic Review is a general-interest economics journal. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in the economics profession and is ...