Economia
Are Children Giffen Goods: An Economic Puzzle
Suppose someone invents an inexpensive and reliable way in which parents can choose the gender of their offspring. From the economic standpoint, this represents an increase in quality—you get a child of your preferred gender instead of a fifty-fifty chance—at no significant increase in cost. Increased quality at constant cost corresponds to decreased cost at constant quality; you are now getting more for your money. Lowering the cost of something increases the quantity demanded.
Do you conclude that, as a result of the new invention, the birth rate goes up? If not, why not? Are children Giffen goods?
Hint: I am fond of the sort of mathematical puzzle which consists of a proof of something obviously false, for example that two equals one; the puzzle is finding the mistake in the proof.
Via, David Friedman. A resposta esta aqui.
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Economia
Os filhos são um bem de Giffen?
Are Children Giffen Goods: An Economic Puzzle
Suppose someone invents an inexpensive and reliable way in which parents can choose the gender of their offspring. From the economic standpoint, this represents an increase in quality—you get a child of your preferred gender instead of a fifty-fifty chance—at no significant increase in cost. Increased quality at constant cost corresponds to decreased cost at constant quality; you are now getting more for your money. Lowering the cost of something increases the quantity demanded.
Do you conclude that, as a result of the new invention, the birth rate goes up? If not, why not? Are children Giffen goods?
Hint: I am fond of the sort of mathematical puzzle which consists of a proof of something obviously false, for example that two equals one; the puzzle is finding the mistake in the proof.
Via, David Friedman. A resposta esta aqui.
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- Se Em Campinas é Ruim, Imagina Em Lusaka...
Nada como começar a semana com pensamentos profundos em macroeconomia. Imprimam e leiam este imperdível artigo do gênio renascentista zambiano Siize Punabantu (link). Financing the doubling of GDP in one year at constant price If the heading has drawn...
- Vantagem Comparativa Obsoleta
Comparative Advantage: An Idea Whose Time Has Passed The Division of Labor Is the Engine That Drives Prosperity Michael Munger The most important principle in economics is opportunity cost. Here’s proof: you can define opportunity cost without...
- 21 Citações De Henry Ford
There is one rule for the industrialist and that is: make the best quality goods possible at the lowest cost possible, paying the highest wages possible. Coming together is a beginning; keeping together is progress; working together is success. Don’t...
- Ranking Dos Melhores Países Para Fazer Negócios
Top 20 Countries For Business By Bloomberg Rankings Fifty nations were analyzed on six broad criteria including the cost of starting a business, the cost of labor and materials, and the cost of moving goods. The study also tallied how integrated each...
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Bem de Giffen: existe? Um artigo curto - da American Economic Review - sobre o tema. GIFFEN, HEINER, AND THE LAW OF DEMAND...