0
Repi Posted 12 years ago
Grammar
at the margin/superior ranking?
'People have varying preferences, and make decisions at the margin to maximize their utility and improve their welfare.'
What does at the margin mean here?
'In the General Possibility Theorem, Kenneth Arrow argues that if a legislative consensus can be reached through a simple majority, then minimum conditions must be satisfied, and these conditions must provide a superior ranking to any subset of alternative votes (Arrow 1963[11])'
What does superior ranking mean here?
A sentence From the text that might help: 'In logrolling, a superior ranking means that the marginal benefit of the vote is greater than any alternatives, so exchanging votes is worthwhile.'
Thank you
What does at the margin mean here?
'In the General Possibility Theorem, Kenneth Arrow argues that if a legislative consensus can be reached through a simple majority, then minimum conditions must be satisfied, and these conditions must provide a superior ranking to any subset of alternative votes (Arrow 1963[11])'
What does superior ranking mean here?
A sentence From the text that might help: 'In logrolling, a superior ranking means that the marginal benefit of the vote is greater than any alternatives, so exchanging votes is worthwhile.'
Thank you
Top answer
"at the margin" --- fundamentally, this means "at the edge of what's viable". For example, a person with only 1 pence to spare each day after they've paid their food and bills will have to make decisions "at the margin" (on this cliff-edge) on what to do with that 1p, and will use it for well-thought-out, productive things ; however if they had £100 to spare (ie the current situation's not at the margin with a bad place), they might spend it on rubbish. So decisions are made at the margins to maximise utility, but not when away from the margins .
- "at the margin" --- fundamentally, this means "at the edge of what's viable".
- For example, a person with only 1 pence to spare each day after they've paid their food and bills will have to make decisions "at the margin" (on this cliff-edge) on what to do with that 1p, and will use it for well-thought-out, productive things ; however if they had £100 to spare (ie the current situation's not at the margin with a bad place), they might spend it on rubbish.
- So decisions are made at the margins to maximise utility, but not when away from the margins .
- "superior ranking" --- perhaps there's a function that, by analysis of the voting outcomes arising from these minimum conditions, gives those conditions a score, and that this score must be better than the score of any voting outcomes arising from available alternative conditions.
- Just my speculation d
Get the Weekly English Kit 📬
New words, one handy idiom, and a 2-minute quiz — delivered to your inbox to keep your streak alive.
1 Answers
0
"at the margin"
--- fundamentally, this means "at the edge of what's viable". For example, a person with only 1 pence to spare each day after they've paid their food and bills will have to make decisions "at the margin" (on this cliff-edge) on what to do with that 1p, and will use it for well-thought-out, productive things; however if they had £100 to spare (ie the current situation's n
--- fundamentally, this means "at the edge of what's viable". For example, a person with only 1 pence to spare each day after they've paid their food and bills will have to make decisions "at the margin" (on this cliff-edge) on what to do with that 1p, and will use it for well-thought-out, productive things; however if they had £100 to spare (ie the current situation's n
0
Related Questions