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Textbook Notes for PHIL224 at University of Waterloo (UW)

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UWPHIL224Heather DouglasFall

PHIL224 Chapter Notes -Lexicographic Preferences, Precautionary Principle, Non-Renewable Resource

OC1565425 Page
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Proposal: reduce levels of ppm in the air. Cost: new technology, high fuel costs, shut down some businesses and jobs. Benefit: health (few expenses, fe
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UWPHIL224Heather DouglasFall

PHIL224 Chapter Notes -Lexicographic Preferences, Pareto Efficiency, Economic Efficiency

OC1565427 Page
23
Furthermore, these preferences are not lexicographic and there is no limit on wants. Example: bag a: 2 apples and 2 oranges = bag b: 1 apple and 3 oran
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