On a wind-battered rock in the Baltic Sea, archaeologists have uncovered a puzzle that cuts to the heart of how dogs first ...

Discover the Diamond-Water Paradox—why diamonds cost more than water. Learn about subjective value and marginal utility in economic valuation.

Nuclear fusion has long been the energy world’s moonshot, a reaction so powerful and so difficult to tame that many ...

Note: Notice of Retraction: After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE's Publication ...

Why do individuals value bread less than gold, when bread seems to be more important in supporting an individual’s life than gold? To provide an answer to this question, economists refer to the law of ...

Among ongoing efforts to rethink the basic tenets of mainstream economics is a provocative new book by James Galbraith and Jing Chen. The authors sweep aside the intellectual structure of mainstream ...

At the heart of economics lies a deceptively simple idea that shapes everything from market strategy to personal growth: marginal value theory. Those who adhere to it insist that when making decisions ...

Understand the key differences between marginal utility and marginal benefit—how they affect pricing, consumer behavior, and ...

Marginal utility helps set product pricing; high initial satisfaction decreases with more units. Some stores use bulk pricing when consumers value additional items less. Progressive taxes assume each ...

Argentine TV series “El Marginal” ran from 2016-2022 and is still available on Netflix. It tells the story of undercover cop Pastor (Juan Minujin) who infilitrates a prison while investigating a ...