Verlag:
Duke University, Center for the History of Political Economy (CHOPE), Durham, NC
Zusammenfassung:
This article examines the role of the nomenclature assumption in demand theory, defined as the assumption that the choice set available to economic agents is considered as given, without requiring an explanation of its origin. After reviewing existing definitions of this assumption, this article analyzes its application in two approaches to demand theory: the goods are goods approach and the characteristics approach. It also presents Yoram Barzel's analysis of the costs involved in measuring the characteristics of commodities, which highlights the implications of mobilizing the nomenclature assumption within the goods are goods approach.