Marginalist Theory
Marginalism explains choice with the hypothesis that people decide whether to effect any given change based on the marginal utility of that change, with rival alternatives being chosen based upon which has the greatest marginal utility.
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Famous quotes containing the word theory:
“Hygiene is the corruption of medicine by morality. It is impossible to find a hygienest who does not debase his theory of the healthful with a theory of the virtuous.... The true aim of medicine is not to make men virtuous; it is to safeguard and rescue them from the consequences of their vices.”
—H.L. (Henry Lewis)
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