Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Austrian Economics, a lens on everyday reality -- Ignore unavailable to you. Want to Upgrade?

To: gpowell who wrote (305)	11/16/2003 4:52:58 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 445

gpowell, In all market exchanges, there will be at least one exchange that is very close to indifferent. This doesn’t imply that this particular exchange is reversible. I think that you may be saying that there is always a marginal buyer. If so, this is a price-based form of near indifference. This wouldn't necessarily be true for satisfaction, or subjective utility. The last dollar I spend this month in a series of smaller and smaller satisfaction-increasing exchanges must be weighed against the expectation that any remaining unspent dollars will be available to take advantage of next month's half price sales and the like. This normally would mean that money resources would become scarce and higher valued well before satisfaction gains from exchange approach indifference. I need a reference to your 'reservation prices'. None of four economic texts that I looked at had any such entry in the index. Thanks, Don