A Probabilistic Theory of Consumer Behavior

Richard E. Quandt

The Quarterly Journal of Economics, 1956, vol. 70, issue 4, 507-536

Abstract: I. The state of affairs, 507. — II. The deficiency of the Complete Ordering Axiom, 508. — III. Redefinition of preference and the choice mechanism, 510. — IV. Intransitivity, 518. — V. Expected behavior under price and income changes, 525. — VI. Conclusion, 536.

Date: 1956
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