on 11/2/01 7:43 PM, John Foster at [log in to unmask] wrote:
> Steve
>>> Consumers are in the market to maximize their welfare.
>
> Gus
>> This sentence is true by definition.
>
John...
> It would be true if consumers had perfect knowledge....but they rarely ever
> do have perfect knowledge...especially when it comes to 'conspicuous forms
> of consumption' and 'new labour saving products.'
snip . . .
Doesn't say they succeeded - just that, given what they know, they try.
Gus
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