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Abstract

A new definition of power that focuses on economic outcomes rather than behaviour, analogous to the definition of force in physics, is proposed. It is argued that this definition is more suited to economics than the behaviouralist definitions discussed in Chapter 6. Moreover, it lends itself to an approach that, instead of attempting to create a brand new theory as Bartlett attempted, simply invites economists to look at some familiar ideas in a new way.

Keywords

Economic Outcome Market Failure Social Welfare Function Neoclassical Economic Social Choice Theory 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Adam Ozanne 2016

Authors and Affiliations

  • Adam Ozanne
    • 1
  1. 1.University of ManchesterUK

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