Consumer Choice of Qualities

Jose Encarnacion

No 198604, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: This paper proposes a treatment of quality variations based on a lexicographic preferences assumption. The main result is that the average quality of goods consumed is higher at higher incomes which, though commonly observed, is not explained by standard theory.

Date: 1986-04
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Published as UPSE Discussion Paper No. 1986-04, April 1986

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Persistent link: https://EconPapers.repec.org/RePEc:phs:dpaper:198604

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