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Persistent link: https://www.econbiz.de/10014609241
Summary While standard economic theory takes individual preferences as stable and “given”, i.e., independent of situational context, real-world preferences tend to vary with changing opportunity sets. This is exemplified by Aesop’s fable of the fox and the sour grapes. This phenomenon of...
Persistent link: https://www.econbiz.de/10014609512
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