Aggregate Economic Choice

1986 ◽  
Author(s):  
Harland Wm. Whitmore
Keyword(s):  
1984 ◽  
Vol 5 (4) ◽  
pp. 51-54
Author(s):  
Florence E. Babb ◽  
Gabriela Nunez
Keyword(s):  

2020 ◽  
Vol 2 (9) ◽  
pp. 32-35
Author(s):  
Z. A. IVANOVA ◽  
◽  
E. V. LEBEDEVA ◽  

In the article the authors consider numerous economic goals with limited resources, reveal the difficulties and obstacles in matters of economic choice. Difficulties in choosing the best of the opposite options for their use, which ensures maximum satisfaction of needs.


Author(s):  
Hyung Soo Lim ◽  
Duk Bin Jun ◽  
Dong Soo Kim ◽  
Yun Shin Lee

2018 ◽  
Vol 71 (8) ◽  
pp. 1734-1747
Author(s):  
Danielle J Green ◽  
Alison Harris ◽  
Aleena Young ◽  
Catherine L Reed

We have a lifetime of experience interacting with objects we value. Although many economic theories represent valuation as a purely cognitive process independent of the sensorimotor system, embodied cognitive theory suggests that our memories for items’ value should be linked to actions we use to obtain them. Here, we investigated whether the value of real items was associated with specific directional movements toward or away from the body. Participants priced a set of food items to determine their values; they then used directional actions to classify each item as high- or low-value. To determine if value is linked to specific action mappings, movements were referenced either with respect to the object (push toward high-value items; pull away from low-value items) or the self (pull high-value items toward self; push low-value items away). Participants who were assigned (Experiment 1) or chose (Experiment 2) to use an object-referenced action mapping were faster than those using a self-referenced mapping. A control experiment (Experiment 3) using left/right movements found no such difference when action mappings were not toward/away from the body. These results indicate that directional actions toward items are associated with the representation of their value, suggesting an embodied component to economic choice.


2017 ◽  
Vol 1 (2) ◽  
pp. 21
Author(s):  
Bobby Anderson ◽  
Patamawadee Jongruck

Opium poppy cultivation in Thailand fell from 12,112 hectares in 1961 to 281 ha in 2015. One outlier exists: Chiang Mai province’s remote southwestern district, Omkoi. 90% of the district is a national forest reserve where human habitation is illegal. However, an ethnic Karen population has lived there since long before the law that outlawed them was created, unconnected to the state by road, with limited or no access to health, education and other services: they cultivate the majority of Thailand’s known opium poppy, because they have little other choice. They increasingly rely on cash-based markets, their lack of citizenship precludes them from land tenure which might incentivize them to grow alternate crops, and their statelessness precludes them from services and protections. Nor is the Thai state the singular Leviathan that states are often assumed to be; it is a collection of networks with divergent interests, of whom one of the most powerful, the Royal Forestry Department, has purposely made Omkoi’s population illegible to the state, and has consistently blocked the attempts of other state actors to complexify this state space beyond the simplicity of its forest. These factors make short-term, high-yield, high value, imperishable opium the most logical economic choice for poor Karen farmers residing in this “non-state” space.


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