axiom

Definitions

Economics

  • noun a basic assumption which forms a theory; normally axioms cannot be proved by must be taken on trust

Health Economics

  • (written as Axiom)
    A primitive assumption or proposition that is taken as given. Theories are built upon sets of mutually consistent axioms and what may be inferred by using them. For the axioms of utility theory see Utility. For the axioms underlying the Arrow impossibility theorem, see that entry.
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