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The paradox of value: Water rates and the law of diminishing marginal utility
Author(s) -
Goetz Melanie K.
Publication year - 2013
Publication title -
journal ‐ american water works association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.466
H-Index - 74
eISSN - 1551-8833
pISSN - 0003-150X
DOI - 10.5942/jawwa.2013.105.0147
Subject(s) - marginal utility , economics , marginal value , value (mathematics) , matching (statistics) , marginal cost , microeconomics , neoclassical economics , positive economics , mathematical economics , mathematics , statistics
According to economists, the more we consume of something the less valuable it becomes, which prompts this question: are pricing strategies for water use really matching consumers' idea of what it's worth?