Examlex
________ indicates how many objects participate in a given relationship.
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.
Revealed Preference
A theory that determines consumer's preferences by observing their purchasing habits and behaviors instead of their preferences being explicitly stated.
Revealed Preference
A theory that assumes individuals' preferences can be determined by their purchasing habits.
Weak Axiom
A principle in consumer choice theory stating that if a consumer prefers bundle A over bundle B when both are available at the same prices, then the consumer will not purchase more of bundle B if its price rises.
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