Application
Many applications of Gorman polar form are summarized in various texts and in Honohan and Neary's article cited at the end of this article. These applications include the ease of estimation of and in certain cases. But the most important application is for the theorist of economics, in that it allows a researcher to treat a society of utility-maximizing individuals as a single individual. In other words, under these conditions a community indifference mapping is guaranteed to exist.
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Famous quotes containing the word application:
“By an application of the theory of relativity to the taste of readers, to-day in Germany I am called a German man of science, and in England I am represented as a Swiss Jew. If I come to be regarded as a bête noire the descriptions will be reversed, and I shall become a Swiss Jew for the Germans and a German man of science for the English!”
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“There are very few things impossible in themselves; and we do not want means to conquer difficulties so much as application and resolution in the use of means.”
—François, Duc De La Rochefoucauld (1613–1680)