The substitutability principle is none other than a generalization of the very notion of tropology. |
Sisal and synthetic fibres have a certain degree of substitutability for uses in agriculture. |
Sappho moves towards the abstract by employing the substitutability of things, people, shops. |
The lower the degree of substitutability, the greater the risk of harm caused by committed-use contracts. |
However, there is also substitutability between organisms in an ecosystem. |
But the logic applies rigidly only in perfect markets, with perfect information, flexibility, liquidity, and substitutability. |