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Overview

money pump

A pattern of intransitive or cyclic preferences causing a decision maker to be willing to pay repeated amounts of money to have these preferences satisfied without gaining any benefit. The ...

money pump

money pump n.   Quick reference

A Dictionary of Psychology (4 ed.)

Reference type:
Subject Reference
Current Version:
2015

... pump n. A pattern of intransitive or cyclic preferences causing a decision maker to be willing to pay repeated amounts of money to have these preferences satisfied without gaining any benefit. The simplest example is a person who evaluates three commodities x , y , and z and prefers x to y , y to z , and z to x . A person may, for example, prefer one lawnmower x to another y because it is larger, and may prefer y to z for the same reason, but may prefer z to x because x would be extremely difficult to take to a repair shop if...

money pump

money pump  

A pattern of intransitive or cyclic preferences causing a decision maker to be willing to pay repeated amounts of money to have these preferences satisfied without gaining any benefit. The simplest ...
Consumerism

Consumerism   Reference library

An Oxford Companion to the Romantic Age

Reference type:
Subject Reference
Current Version:
2009
Subject:
History, modern history (1700 to 1945), Literature
Length:
3,809 words
Publisher:
Oxford University Press

...the key cause, of the industrial revolution was the articulation of effective home consumer demand. Even if by the early Victorian age—arguably the peak decades of industrial transformation—economic dynamism was primarily associated with steam-powered factories and also with the pumping out of heavy industrial products and capital goods (coal, iron, steel, chemicals, steam engines, railways, ships, machine tools, and factory plant), the initial industrial quickening from around 1760 is said to have involved first and foremost a growing capacity to meet rising...

Revolution

Revolution   Reference library

An Oxford Companion to the Romantic Age

Reference type:
Subject Reference
Current Version:
2009
Subject:
History, modern history (1700 to 1945), Literature
Length:
5,734 words
Publisher:
Oxford University Press

...the older societies, which were dominated by minor gentry and professional men. In response to the spread of this extra-parliamentary reform movement, the wide dissemination of Paine's work, and the proliferation of reforming handbills, chap-books, poems, songs, and squibs being pumped out by radical presses both in London and in the provinces, the government issued a Royal Proclamation Against Seditious Writings and Publications in May 1792 and inaugurated a prosecution for libel against Paine for Rights of Man: Part the Second . But while several hundred...

11 The Technologies of Print

11 The Technologies of Print   Reference library

James Mosley

The Oxford Companion to the Book

Reference type:
Subject Reference
Current Version:
2010
Subject:
History, Social sciences
Length:
10,250 words
Publisher:
Oxford University Press
Illustration(s):
8

...introduced. A lever at the side enabled the caster to raise the matrix and eject the cast type without opening the mould. This device is credibly said to have raised the daily production by hand to as many as 8,000 small types. Another mechanical aid was the expedient of fixing a pump to the pot containing molten metal, so that the hand mould could be rapidly and more evenly fed. The powered injection of the metal also made it easier to cast finely ornamented types, introduced to rival the lettering drawn by lithographers, who competed for the more elaborate...

pumping

pumping  

Reference type:
Overview Page
The colloquial name for the injection of money into the US banking system by the Federal Reserve Bank to force down interest rates.
Cyberskills Association

Cyberskills Association  

A group of companies and education providers which was set up with pump priming money by the British government to promote awareness of the importance of Internet skills.
Dutch book

Dutch book  

A money pump in which a person holds intransitive or cyclic preferences, for example, preferring x to y, y to z, and z to x. Such a person is therefore willing to pay to have any of them exchanged ...
automatic stabilizers

automatic stabilizers  

Adjustments to fiscal policy that occur automatically during business cycles and smooth the path of economic growth. For example, in a recession the government will pump money into the economy by ...
prime

prime  

Reference type:
Overview Page
Subject:
History
Make something ready for use.prime the pump stimulate or support the growth or success of something by supplying it with money.
transitive preferences

transitive preferences  

Preferences having the property that if one alternative is preferred to a second, and the second is preferred to a third, then the first is preferred to the third. It is often assumed to be an axiom ...
cyclic preferences

cyclic preferences  

Another name for intransitive preferences, especially when cyclicity exists among more than three alternatives, as in the following example. A die is rolled, and the outcomes I, II, …, VI, denoting ...
intransitive preferences

intransitive preferences  

Preferences violating the condition that if one alternative is preferred to a second, and the second is preferred to a third, then the first should be preferred to the third. The following is the ...
fens

fens  

Reference type:
Overview Page
Subject:
History
Fen is an Old English word to describe the low‐lying, waterlogged areas of eastern England, particularly those draining into the Wash or the Humber. From the early Middle Ages onwards, if not before, ...
decision theory

decision theory  

A normative (1) approach to decision making based on expected utility theory, some versions also incorporating Bayesian inference. It starts from the assumption that, for any pair of alternatives, ...
Mary Celeste

Mary Celeste  

Reference type:
Overview Page
Subject:
History
A hermaphrodite brig of some 280 tons found abandoned in the Atlantic in November 1872. How she came to be in that condition remains one of the great mysteries of the sea.She sailed from New York on ...
pumping

pumping   Quick reference

A Dictionary of Business and Management (6 ed.)

Reference type:
Subject Reference
Current Version:
2016
Subject:
Social sciences, Business and Management
Length:
25 words

... The colloquial name for the injection of money into the US banking system by the Federal Reserve Bank to force down interest...

pumping

pumping   Quick reference

A Dictionary of Finance and Banking (6 ed.)

Reference type:
Subject Reference
Current Version:
2018

... The colloquial name for the injection of money into the US banking system by the Federal Reserve Bank to force down interest...

prime

prime   Quick reference

The Oxford Dictionary of Idioms (4 ed.)

Reference type:
Subject Reference
Current Version:
2020
Subject:
Language reference
Length:
90 words

... prime the pump stimulate or support the growth or success of something, especially by supplying it with money. 🅘 This phrase is used literally of a mechanical pump into which a small quantity of water needs to be poured before it can begin to function. 1977 Tom Sharpe The Great Pursuit Significance is all … Prime the pump with meaningful ...

Dutch book

Dutch book n.   Quick reference

A Dictionary of Psychology (4 ed.)

Reference type:
Subject Reference
Current Version:
2015

...n. A money pump in which a person holds intransitive or cyclic preferences , for example, preferring x to y, y to z , and z to x . Such a person is therefore willing to pay to have any of them exchanged for one that is preferred to it, and is then willing to pay to have that one exchanged for another, and so on indefinitely. The property that differentiates a Dutch book from any other money pump is that the price for each exchange is lowered until the person is willing to pay for it, although the term is often used as a synonym for a money pump. ...

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