Choice and Demand

Takashi Hayashi ()
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Takashi Hayashi: University of Glasgow

Chapter Chapter 5 in Microeconomic Theory for the Social Sciences, 2021, pp 63-79 from Springer

Abstract: Abstract As before, let X be the set of all the potentially available choice alternatives, which is the consumption set in the context of choosing consumptions. Let $$\succsim $$ ≿ denote preference relation defined over X. Now suppose that an opportunity set B is available as a subset of X. Then the “best” choice in B for a given individual is defined as a maximal element in it according to his preference.

Date: 2021
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DOI: 10.1007/978-981-16-3541-0_5

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