4 ms·
If you change the good to be "five guys stop screaming" or "ten guys ..." then then MU may be once again diminishing. A common example of this is given with eg
by swaits 15y ago
If you change the good to be "five guys stop screaming" or "ten guys ..." then then MU may be once again diminishing.
A common example of this is given with eggs. You may only like omelets, which take three eggs apiece. So, a third egg is worth more to you than the first two. But if the good is considered as "three eggs", a different good entirely, the LoDMU holds.
- ckarelis 15y agoFrom Charles Karelis. Of possible interest, the "lumpy good" rebuttal of my hypothesis is treated in detail in my book. In essence, while there are obviously goods such that sub-threshold quantities have no utility whatever (fewer than four tires or two shoes, perhaps), most "reliever goods" are not examples of that. For instance, if I have six dents in my car, I prefer the hammering out of the last unfixed dent to the hammering out of the first unfixed dent, the one that leaves five more to go, BUT I prefer the hammering out of that first dent to the hammering out of none.There is more to it, and lots of examples in the book, but that's the heart of the matter, in my view.