This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 edition. Excerpt: ...every moment's use of a house is a separate use, but for convenience these infinitesimal uses are grouped into conventional units, as one day's or month's or year's use, evaluated all at one date. The uses of a house for the next ten years may be practically the same in a physical sense but they are ...
Read More
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 edition. Excerpt: ...every moment's use of a house is a separate use, but for convenience these infinitesimal uses are grouped into conventional units, as one day's or month's or year's use, evaluated all at one date. The uses of a house for the next ten years may be practically the same in a physical sense but they are distributed in time. But it is not a stock of present, non-perishable goods which may be all treated as present uses or all as future uses subject to the leveling influence of time-preference. Each use is fixed in time and must be valued there or not at all. (See Figure 34.) If every future use were valued now without discount, the present values of the units would be represented by the top line. If this occurred in the case of a durable house that should last a hundred years, the total present value of future uses would be one hundred times this year's use. A piece of real-estate kept up under the renting contract has an indefinite series of uses, which if not discounted would have an incredibly large present value, a thousand times, or an infinite number of times, the value of the annual use. But if the future uses (as usually happens) are discounted in the present, this might be represented by the descending line. Such regularity results, however, only in a market where the great variety of individual differences of conditions have been Pia. 35. Years Varioits Individual Valuations Of Future Uses. combined into a marketrate of time-preference. A (Figure 35) has a growing family and the uses of the house will steadily increase for the next six years, and then, as his children leave home, will decline. B is expecting to be away for a time, and the house will first yield uses of smaller, then of larger, value. If each of these persons or...
Read Less
Add this copy of Economics; Volume 1 to cart. $24.01, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2022 by Legare Street Press.
Add this copy of Economics; Volume 1 to cart. $34.31, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2022 by Legare Street Press.
Add this copy of Economics; Volume 1 to cart. $38.96, new condition, Sold by Ria Christie Books rated 5.0 out of 5 stars, ships from Uxbridge, MIDDLESEX, UNITED KINGDOM, published 2022 by Legare Street Press.
Add this copy of Economics; Volume 1 to cart. $48.63, new condition, Sold by Ria Christie Books rated 5.0 out of 5 stars, ships from Uxbridge, MIDDLESEX, UNITED KINGDOM, published 2022 by Legare Street Press.