Examples of voluntary exchange in the following topics:
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- The individuals exchange goods that are characterized by nonattenuated property rights.
- Under these conditions, from a utilitarian perspective, no one would rationally engage in a voluntary exchange if it made them worse off.
- Therefore, any voluntary exchange must lead to Pareto superior results.
- Since exchanges are perceived to be voluntary, no individual would choose to make themselves worse off.
- Voluntary markets of goods with nonattenuated property rights are consistent with the Utilitarian Ethic and Pareto Efficiency.
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- Generally, a person would enter into a voluntary exchange if they can improve their welfare or increase their utility.
- Therefore, any voluntary exchange will increase the welfare of one or both parties and neither will be any worse off.
- Voluntary exchange is believed to increase the utility of the members of society.
- Any voluntary exchange reflects the preferences of the parties to the exchange.
- "Voluntary" exchange is often a matter of degree.
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- Standard economic theory states that any voluntary exchange is mutually beneficial to both parties involved in the trade.
- However, an exchange can cause additional effects on third parties.
- A voluntary exchange may reduce total economic benefit if external costs exist.
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- Most of Neoclassical microeconomics is a story about the way market exchange reveals, communicates and uses individual evaluations about marginal benefits (MB) and marginal costs (MC).
- The information about MC and MB revealed by market exchanges (like all information) is never perfect.
- Problems arise when exchange is not voluntary and property rights are attenuated.
- Pure competition is one way to ensure that no one buyer or seller has the ability to alter the outcome of market exchanges and the information revealed in prices.
- The existence of market power allows a buyer or seller to influence the outcome of a market exchange and distort the information about MB and MC.
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- Exchange is a voluntary transaction between two or more persons.
- There is no need for one party of the exchange to know the other.
- In many ways anonymity of the parties to the exchange may make the exchange less complicated.
- An individual who fails to comply with the terms of the contract or exchange may by sued in a system of courts that has the authority to enforce the exchange.
- One is that exchanges must be voluntary.
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- Voluntary associations, a third type, are created by the exchange or transfer of inducements or expected inducements by mutual consent.
- Although it is a trust association between the parents (jointly) and their children, it is a voluntary association between husband and wife.
- Voluntary associations can be far larger than a family.
- Four of the predominant institutions in modern America—corporations, labor unions, political parties, and churches—are basically voluntary associations.
- Hence, the definition of voluntary associations is in terms of inducements or expected inducements.
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- Unlike a voluntary sale, involuntary conversion of assets can involve an asset exchange for monetary or non-monetary assets .
- An exchange between non-monetary assets should be analyzed to determine if the exchange has commercial substance.
- An asset exchange with commercial substance will cause future cash flows to materially change.
- For non-monetary asset exchanges without commercial substance, the expectation is that the exchange will not materially alter future cash flows.
- This type of exchange usually involves like-kind property, such as exchanging a truck for another truck.
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- Private-Voluntary.
- Compound-Voluntary.
- It is compound because one party is a government and one is not; it is voluntary because it is established by mutual consent of the parties to the exchange of inducements.
- Public-Voluntary.
- Within the US, public-voluntary associations often exist between two or more states.
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- Voluntary disclosure in accounting is the provision of information by a company's management beyond requirements such as generally accepted accounting principles and Securities and Exchange Commission rules, where the information is believed to be relevant to the decision-making of users of the company's annual reports.
- Voluntary disclosures can include strategic information such as company characteristics and strategy, non-financial information such socially responsible practices, and financial information such as stock price information.
- FASB classified voluntary disclosures into six categories below, while Meek, Roberts and Gray (1995) classified them into three major groups: strategic, nonfinancial and financial information.
- The determinants of the extent and type of voluntary disclosures of firms have been explored in the financial reporting literature.
- Meek, Roberts and Gray (1995) found that the extent and type of voluntary disclosure differs by geographic region, industry, and company size, and other research has found that the extent of voluntary disclosure is affected by the firm's corporate governance structure and ownership structure.
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- The public sphere is composed of voluntary associations that promote social capital and social cohesion while enhancing democracy.
- In his book Bowling Alone, Robert Putnam gave the famous example of bowling leagues as a voluntary association that makes up civil society.
- But over the years, bowling leagues have become less common (and, according to Putnam, so have all types of voluntary associations).
- They argued that the political element of many voluntary organizations facilitates better awareness and a more informed citizenry, who make better voting choices, participate in politics, and hold government more accountable as a result.
- Voluntary associations, such as Elks Clubs, make up the public sphere.