Is the Substitution Term Ambiguous

1. In their interesting and provocative recent paper, Professors Folk and Wolfe consider the problem of equilibrium of a single consumer under market conditions represented by a budget constraint which is not linear.' They make the usual assumption that the consumer has a given indifference map which is continuous and twice differentiable and they come up with two new theorems, both in negative form

Economics · Linguistics · Physics · Substitution (logic) · Term (time) · Economic theories and models · Economic Theory and Institutions · Philosophy