Abstract
Competitive rational consumers reveal their preferences through their market behaviour as was made clear by Samuelson’s (1947) revealed preference approach and by the literature on demand theory. Any bundle of commodities less costly than his chosen bundle must be less appreciated by a rational consumer than his chosen bundle.
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Laffont, J.J. (2018). Revelation of Preferences. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1549
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1549
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