Asked by
Skyllar Richter
on Oct 14, 2024
Verified
If preferences are quasilinear, then the delineation of property rights has no distributional consequences.
Quasilinear Preferences
Preferences characterized by a linear utility function in one good, making the marginal rate of substitution dependent only on quantities of other goods.
- Recognize the crucial nature of property rights and the way their distribution influences market performance and resource allocation.
Verified Answer
JS
Learning Objectives
- Recognize the crucial nature of property rights and the way their distribution influences market performance and resource allocation.