A Praxeological Case for Homogeneity and Indifference
DOI:
https://doi.org/10.62374/b94z8y61Keywords:
equally serviceable, interchangeable, indifference, means-and-ends frameworkAbstract
The purpose of the article below is to explain the concept of homogeneity, the basis for the law of diminishing marginal utility. We will not rely on a psychological definition as Block (1980) does. Instead we offer a counterfactual, hence praxeological, approach to indifference. Recent papers by Long (2006) and Hülsmann (2003) are very helpful in this matter. The paper also clarifies and develops Hoppe (2005).
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