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The New Palgrave Dictionary of Economics pp 14187–14190Cite as

Palgrave Macmillan

User Cost

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Abstract

John Maynard Keynes developed the concept of user cost as a significant component of the supply price of any business enterprise. By introducing user cost as an expectational variable, Keynes hoped to bring the existing unrealistic economic theory back ‘to reality’ (Keynes 1936, p. 146). Keynes believed that the concept of user cost had ‘an importance … for the theory of value which has been overlooked’ (ibid., p. 66).

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Authors and Affiliations

  1. http://link.springer.com/referencework/10.1007/978-1-349-95121-5

    Paul Davidson

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  1. Paul Davidson
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© 2018 Macmillan Publishers Ltd.

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Davidson, P. (2018). User Cost. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1871

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