Gossen's law of the saturation of wants
From Mises Wiki, the global repository of classical-liberal thought
Gossen's law of the saturation of wants (or first law of Gossen) says that the continuance, increase or repetition of the same kind of consumption yields a continuously decreasing satisfaction or pleasure up to a point of satiety. This law first propounded in 1854 by Hermann Heinrich Gossen, in a rare and little known German book, was rediscovered more than twenty years later by Robert Adamson, a Scottish Professor of Logic and Philosophy, and reported to the eminent English economist, William Stanley Jevons who brought it to the attention of the economic profession.[1]
References
- ↑ Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-07-15.
Links
- Gossen's laws at Wikipedia
