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The Economics of control: an application.

Publication: International Advances in Economic Research
Publication Date: 01-NOV-06
Format: Online
Delivery: Immediate Online Access
Full Article Title: The Economics of control: an application.(Research Notes)

Article Excerpt
This study revisits utility theory and applies standard consumer theory to the choice between two 'goods,' money and the freedom to control one's own life. The freedom to control one's own life is an intangible, but very real asset, which we assume enhances an individual's well being. Money is a tangible asset that is related to an individual's...

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