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If Human Participants Cannot Be Selected Randomly

question 53

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If human participants cannot be selected randomly,


Definitions:

Weak Axiom

A principle in consumer theory that if a consumer prefers bundle A over bundle B when both are affordable, they will not choose B over A when income or prices change, holding everything else constant.

Strong Axiom

Often refers to the strong axiom of revealed preference in economics, a principle used to infer a consumer's complete preference ordering over goods.

Revealed Preference

A theory suggesting that the preferences of consumers can be understood from their purchasing habits and choices.

Strong Axiom

A mathematical condition used in decision theory and economic models that strengthens the requirements for consumer choice consistency over time or across different conditions.

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