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OALib Journal期刊
ISSN: 2333-9721
费用:99美元
投稿
时间不限
( 2672 )
( 2022 )
( 2020 )
( 2019 )
自定义范围…
In this article a model of consumer behavior will be developed, based on preferences on the price space reflecting the individual’s willingness to pay for certain quantities of commodities under the supposition that the individual is restricted to his or her income. Firms offer certain amounts of commodities at the market and consumers react to these offers by their willingness to pay. Existence and continuity of the inverse demand function describing consumer’s behavior under appropriate conditions will be shown. Furthermore, differences between a model of consumer behavior based on preferences on the commodity space and that which is based on preferences on the price space will be pointed out.