Commodity Bundle


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Commodity Bundle

One unit of the collection of the complete set of goods produced and sold in the world market.
References in periodicals archive ?
(3) They assume that the commodity bundle includes all goods traded in the market, so the commodity own rate is the relevant real interest rate.
As was discussed earlier (see section 4), even when each person's preference is taken to be the ultimate arbitrator of well-being for that person and even when, to take a very special case, everyone has the same demand function or preference map, the comparison of market valuations of commodity bundles (or their relative placing on a shared system of indifference map in the commodity space) may tell us rather little about interpersonal comparisons of well-being.
For example, the assumption, often implicitly made, that two persons with the same demand function must have the same relation between commodity bundles and well-being (no matter whether one is ill and the other not, one disabled and the other not, etc.) is basically a way of evading the consideration of significant influences on well-being.
Second, the new methodology did not consider the possibility of changes in consumer preferences, which means that the commodity bundle of 1973-74 does not now capture the current pattern of consumption in India.
"Commodity Bundle Media of Account: 'Black-Fama-Hall' Reform Proposals." Manuscript, George Mason University, 1990, revised 1991.
Yet, in practice, the World Bank's 'dollar-a-day' international poverty line preserves invariance in the space of real incomes, while India's official poverty lines preserve invariance in the space of commodity bundles. Regrettably, the language of a 'poverty line'--in terms of which incomes or resources are seen as a means to the end of avoiding deprivation in the space of functionings--is wholly incompatible with such postulated invariance of real incomes or commodity bundles.
The treatment of agents' preferences over commodity bundles proceeds in an orthodox fashion in both financial economics and defense economics.
As Pollak and Wachter point out, Households with different tastes [and the same technology] will select different commodity bundles, and....
Since consumers do not want two seats to the given performance, quantity discounts and standard commodity bundles are infeasible.