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What is Neoclassical Economics in Environmental Context about?

The document discusses the evolution of the concept of utility in economics from its origins in classical utilitarian philosophy. It describes how utility was initially viewed as an objective measure of satisfying needs but became a subjective measure of happiness. Early neoclassical economists conceived of utility as cardinal but later shifted to ordinal utility. The core assumptions of the neoclassical economic model are described as rational choice, stable preferences, and equilibrium outcomes. Problems

Author

barbaraplanellsleones

Language

EN