Examlex
What is a media mix?
Strong Axiom
Often refers to the strong axiom of revealed preference, which is a more stringent condition than the weak axiom, ensuring choices are consistent across different sets of available options.
Revealed Preferences
A theory that determines preferences by observing consumer choices and behaviors, rather than through direct inquiry about preferences.
Bundle
A collection of goods or services that are sold together as a single package deal.
Weak Axiom
A principle in consumer theory stating that if a consumer prefers bundle A over bundle B when prices are constant, then the consumer will not choose B over A if the price of A decreases and B's price remains unchanged.
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