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Concept information

Preferred term

revealed preference  

Definition(s)

  • Revealed preference theory holds that consumers' preferences can be revealed by what they purchase under different circumstances, particularly under different income and price circumstances. The concept argues that if a consumer purchases a specific bundle of goods, then that bundle is “revealed preferred,” given constant income and prices, to any other bundle that the consumer could afford. [Source: Encyclopedia of Business Ethics and Society; Revealed Preference]

Belongs to group

URI

http://data.loterre.fr/ark:/67375/N9J-PGBCWTGZ-L

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