Chapter 1: Economics and Institutions: A Shift of Emphasis
An analysis of the experiment appears in Resolving Teaser 1 at the end of the chapter. I. The Consumption Possibility Set. A . consumption possibility set. is the set of bundles feasible for the agents to consume in a society. A. A Primitive State of Nature: People and Goods. Figure 2.1 illustrates the initial primitive state of nature. ................
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