Consumer Theory

Susheng Wang ()
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Susheng Wang: Hong Kong University of Science and Technology

Chapter Chapter 2 in Microeconomic Theory, 2018, pp 37-67 from Springer

Abstract: Abstract There are two distinct approaches to modeling individual behaviors. The first approach starts with preferences and proceeds to rationalizing the preferences and then showing the existence of a utility representation. The second approach is based on observations of individual choices and proceeds to reveal individual preferences with the aid of some consistency assumptions on individual preferences.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-981-13-0041-7_2

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DOI: 10.1007/978-981-13-0041-7_2

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