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Rationing: definition and section on mechanisms
Hi, The reference to the New Enc. Britannica was inserted to clarify where the classic definition ends and a more contemporaneous one begins, that is, the 'artificial demand', for which a source and explanation would be welcome. (I would say that the false needs inculcated by advertising are surely artificial demands, but diminished demands would not easily classify as artificial.)
The section on rationing mechanisms was added though I am not an econometrist, I only superficially read Moulin's Cooperative Microeconomics, scanned some Internet articles, and thumbed through a few handbooks in mathematical libraries. The first paragraph is my own effort to extend the definition of rationing. There is no formal definition in Cox's book.
Please improve.