fallacy of composition

In other cases, trying to do this leads to a fallacy of composition.

That is the problem economists call the "fallacy of composition."

Chapter 8 deals with the fallacies of composition, and division.

That's the fallacy of composition for you.

The fallacy of composition is also known as the "un-ecological fallacy."

Because representative agent models simply ignore valid aggregation concerns, they sometimes commit the so-called fallacy of composition.

Bit tricky when everyone is deflating though - the fallacy of composition that the EU leaders just dont get.

The fallacy of composition occurs if from the rationality of the individuals one infers that society can be equally rational.

Fallacy of composition - assumes what is true of the parts is true of the whole.

A fallacy of composition, involving the illegitimate transfer of microeconomic methods of analysis to macroeconomics, also appears to have added to the confusion.

If so, was the muddle caused by a fallacy of composition, illegitimately assuming that what held true in the small continued to hold true in the large?

This is a limited example of the fallacy of composition, where assuming that the increase in production that normally occurs when total labor increases applies in all situations.

Such models have recently received severe neoclassical criticism, pointing to the disjuncture between microeconomic behavior and macroeconomic results, as indicated by Kirman (1992), and the fallacy of composition.

Both the narrow and broad claims are paradoxical within the assumption underlying the fallacy of composition, namely that what is true of the parts must be true of the whole.

The converse of this fallacy is called fallacy of composition, which arises when one fallaciously attributes a property of some part of a thing to the thing as a whole.

Nobody, it seems, warned Greider that he needed to worry about fallacies of composition, that the logic of the economy as a whole is not the same as the logic of a single market.

Someone unaware of the paradox of thrift would fall into a fallacy of composition and assume that what seems to be good for an individual within the economy will be good for the entire population.

In voting theory, the Condorcet paradox demonstrates a fallacy of composition: Even if all voters have rational preferences, the collective choice induced by majority rule is not transitive and hence not rational.

The fallacy of composition arises when one infers that something is true of the whole from the fact that it is true of some part of the whole (or even of every proper part).

That is, the critique of neoclassical capital theory might be summed up as saying that it suffers from the fallacy of composition, i.e., that we cannot simply jump from microeconomic conceptions to an understanding of production by society as a whole.

Chartalists, like other Keynesians accept the paradox of thrift, which argues that identifying behavior of individual households and the nation as a whole commits the fallacy of composition; while the paradox of thrift (and thus deficit spending for fiscal stimulus) is widely accepted in economics, the Chartalist form is not.

The credibility of this work was heavily criticized by economist Paul Krugman, who claimed that Greider ignored the fallacies of composition that run rampant in the work, misinterpreted facts (some of which were incorrect), and misled readers with false assumptions - all possibly due to his lack of consultation with economists.

It suggests, in particular, that what might seem to a naive commentator like a natural conclusion--if productivity growth in the steel industry reduces the number of jobs for steelworkers, then productivity growth in the economy as a whole reduces employment in the economy as a whole--may well involve a crucial fallacy of composition.