The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd


  • K. H. Hennings
Reference work entry


The term ‘waiting’ was introduced by MacVane (1887) to replace the term ‘abstinence’ used by earlier economists. Both terms are so closely related that they will be discussed together.

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Authors and Affiliations

  • K. H. Hennings
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