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- Robinson_Crusoe_economy abstract "A Robinson Crusoe economy is a simple framework used to study some fundamental issues in economics. It assumes an economy with one consumer, one producer and two goods. The title "Robinson Crusoe" is a reference to the novel of the same name authored by Daniel Defoe in 1719.As a thought experiment in economics, many international trade economists have found this simplified and idealized version of the story important due to its ability to simplify the complexities of the real world. The implicit assumption is that the study of a one agent economy will provide useful insights into the functioning of a real world economy with many economic agents. This article pertains to the study of consumer behaviour, producer behaviour and equilibrium as a part of microeconomics. In other fields of economics, the Robinson Crusoe economy framework is used for essentially the same thing. For example, in public finance the Robinson Crusoe economy is used to study the various types of public goods and certain aspects of collective benefits. It is used in growth economics to develop growth models for underdeveloped or developing countries to embark upon a steady growth path using techniques of savings and investment.In the Robinson Crusoe economy, there is only one individual – Robinson Crusoe himself. He acts both as a producer to maximise profits, as well as consumer to maximise his utility. The possibility of trade can be introduced by adding another person to the economy. This person is Crusoe's friend, Man Friday. Although in the novel he plays the role of Crusoe's servant, in the Robinson Crusoe economy he is considered as another actor with equal decision making abilities as Crusoe. Along with this, conditions of Pareto Efficiency can be analysed by bringing in the concept of the Edgeworth box.The basic assumptions of the Robinson Crusoe economy are as follows: The island is cut off from the rest of the world (and hence cannot trade) There is only a single economic agent (Crusoe himself) All commodities on the island have to be produced or found from existing stocks↑ ↑ ↑ ↑ ↑".
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- Robinson_Crusoe_economy wikiPageExternalLink the-unfortunate-uselessness-of-most-state-of-the-art-academic-monetary-economics.
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- Robinson_Crusoe_economy wikiPageExternalLink Robinson2.pdf.
- Robinson_Crusoe_economy wikiPageExternalLink MicroTheory_Lecture_11a_RobinsonCrusoeEconomy.pdf.
- Robinson_Crusoe_economy wikiPageExternalLink Lecture_27_Production.pdf.
- Robinson_Crusoe_economy wikiPageExternalLink MicroIILecture2.pdf.
- Robinson_Crusoe_economy wikiPageExternalLink robinson.pdf.
- Robinson_Crusoe_economy wikiPageExternalLink Robinson_Crusoe_Economy.pdf.
- Robinson_Crusoe_economy wikiPageExternalLink Crueso.pdf.
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- Robinson_Crusoe_economy wikiPageWikiLink Autarky.
- Robinson_Crusoe_economy wikiPageWikiLink Bad_(economics).
- Robinson_Crusoe_economy wikiPageWikiLink Category:Economic_growth.
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- Robinson_Crusoe_economy wikiPageWikiLink Category:Economic_theories.
- Robinson_Crusoe_economy wikiPageWikiLink Category:Economics_aphorisms.
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- Robinson_Crusoe_economy wikiPageWikiLink Category:Microeconomics.
- Robinson_Crusoe_economy wikiPageWikiLink Category:Production_economics.
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- Robinson_Crusoe_economy wikiPageWikiLink Collectively_exhaustive.
- Robinson_Crusoe_economy wikiPageWikiLink Collectively_exhaustive_events.
- Robinson_Crusoe_economy wikiPageWikiLink Concave_function.
- Robinson_Crusoe_economy wikiPageWikiLink Consumer_behaviour.
- Robinson_Crusoe_economy wikiPageWikiLink Contract_curve.
- Robinson_Crusoe_economy wikiPageWikiLink Daniel_Defoe.
- Robinson_Crusoe_economy wikiPageWikiLink Dividend.
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- Robinson_Crusoe_economy wikiPageWikiLink Edgeworth_box.
- Robinson_Crusoe_economy wikiPageWikiLink Friday_(fictional_character).
- Robinson_Crusoe_economy wikiPageWikiLink Fundamental_theorems_of_welfare_economics.
- Robinson_Crusoe_economy wikiPageWikiLink Growth_economics.
- Robinson_Crusoe_economy wikiPageWikiLink Indifference_curve.
- Robinson_Crusoe_economy wikiPageWikiLink Indifference_curves.
- Robinson_Crusoe_economy wikiPageWikiLink Locus_(mathematics).
- Robinson_Crusoe_economy wikiPageWikiLink Man_Friday.
- Robinson_Crusoe_economy wikiPageWikiLink Marginal_rate_of_substitution.
- Robinson_Crusoe_economy wikiPageWikiLink Marginal_rate_of_transformation.
- Robinson_Crusoe_economy wikiPageWikiLink Numéraire.
- Robinson_Crusoe_economy wikiPageWikiLink Pareto_Efficiency.
- Robinson_Crusoe_economy wikiPageWikiLink Pareto_efficiency.
- Robinson_Crusoe_economy wikiPageWikiLink Pareto_efficient.
- Robinson_Crusoe_economy wikiPageWikiLink Production_function.
- Robinson_Crusoe_economy wikiPageWikiLink Production–possibility_frontier.
- Robinson_Crusoe_economy wikiPageWikiLink Public_finance.
- Robinson_Crusoe_economy wikiPageWikiLink Public_good.
- Robinson_Crusoe_economy wikiPageWikiLink Public_goods.
- Robinson_Crusoe_economy wikiPageWikiLink Quasiconvex_function.
- Robinson_Crusoe_economy wikiPageWikiLink Returns_to_scale.
- Robinson_Crusoe_economy wikiPageWikiLink Robinson_Crusoe.
- Robinson_Crusoe_economy wikiPageWikiLink Shareholder.
- Robinson_Crusoe_economy wikiPageWikiLink Welfare_economics.
- Robinson_Crusoe_economy wikiPageWikiLink File:Equilibrium_in_both_production_and_consumption_in_the_Robinson_Crusoe_Economy.jpg.
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- Robinson_Crusoe_economy wikiPageWikiLink File:Joint_production_possibilities_in_the_Robinson_Crusoe_Economy.jpg.
- Robinson_Crusoe_economy wikiPageWikiLink File:Production_Possibilities_Set_in_Robinson_Crusoe_Economy_and_the_Edgeworth_Box.jpg.
- Robinson_Crusoe_economy wikiPageWikiLink File:Production_Possibilities_Set_in_Robinson_Crusoe_Economy_with_two_commodities.jpg.
- Robinson_Crusoe_economy wikiPageWikiLink File:Profit_Maximising_Condition_for_the_firm_in_the_Robinson_Crusoe_Economy.jpg.
- Robinson_Crusoe_economy wikiPageWikiLink File:Robinson_Crusoes_Maximisation_Problem_showing_his_budget_line_and_indifference_curve.jpg.
- Robinson_Crusoe_economy wikiPageWikiLink File:The_Robinson_Crusoe_Economys_Production_Function_and_Indifference_Curves.jpg.
- Robinson_Crusoe_economy wikiPageWikiLinkText "Robinson Crusoe economy".
- Robinson_Crusoe_economy hasPhotoCollection Robinson_Crusoe_economy.
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- Robinson_Crusoe_economy subject Category:Economic_growth.
- Robinson_Crusoe_economy subject Category:Economic_systems.
- Robinson_Crusoe_economy subject Category:Economic_theories.
- Robinson_Crusoe_economy subject Category:Economics_aphorisms.
- Robinson_Crusoe_economy subject Category:Economics_terminology.
- Robinson_Crusoe_economy subject Category:Microeconomics.
- Robinson_Crusoe_economy subject Category:Production_economics.
- Robinson_Crusoe_economy subject Category:Robinson_Crusoe.
- Robinson_Crusoe_economy hypernym Framework.
- Robinson_Crusoe_economy type Ideology.
- Robinson_Crusoe_economy type Software.
- Robinson_Crusoe_economy type Ideology.
- Robinson_Crusoe_economy type Microeconomic.
- Robinson_Crusoe_economy type Theory.
- Robinson_Crusoe_economy comment "A Robinson Crusoe economy is a simple framework used to study some fundamental issues in economics. It assumes an economy with one consumer, one producer and two goods. The title "Robinson Crusoe" is a reference to the novel of the same name authored by Daniel Defoe in 1719.As a thought experiment in economics, many international trade economists have found this simplified and idealized version of the story important due to its ability to simplify the complexities of the real world.".
- Robinson_Crusoe_economy label "Robinson Crusoe economy".
- Robinson_Crusoe_economy sameAs اقتصاد_روبنسون_كروزو.
- Robinson_Crusoe_economy sameAs Economía_de_Robinson_Crusoe.
- Robinson_Crusoe_economy sameAs Robinson_Crusoë-economie.
- Robinson_Crusoe_economy sameAs m.0h3qz5c.
- Robinson_Crusoe_economy sameAs Ekonomia_e_Robinson_Kruzos.
- Robinson_Crusoe_economy sameAs Q7353000.
- Robinson_Crusoe_economy sameAs Q7353000.
- Robinson_Crusoe_economy wasDerivedFrom Robinson_Crusoe_economy?oldid=674771370.
- Robinson_Crusoe_economy depiction Income_Leisure_Preference_in_a_Robinson_Crusoe_Economy.jpg.
- Robinson_Crusoe_economy isPrimaryTopicOf Robinson_Crusoe_economy.