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Revealed Preference Hypothesis (HINDI)

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  • čas přidán 10. 06. 2019
  • Revealed Preference Hypothesis is an important landmark in the evolution of demand theory and consumer behaviour. It not only reflects the elements of Marshall's demand curve but also the capability of Hicks-Allen Indifference Curve analysis for measuring substitution and real income effect on consumer equilibrium. importantly the RP hypothesis does it without going into the cumbersome process of drawing the indifference map by finding the marginal rate of substitution of one good for another as the preference revealed by consumer is taken into analysis. So RP hypothesis is a significant improvement over the earlier consumer theories.
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