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You have data on an individual's consumption of three goods in three price regimes: Consumption 92 Regime A B C Price P1 P2 1
You have data on an individual's consumption of three goods in three price regimes: Consumption 92 Regime A B C Price P1 P2 1 1 2 1 1 P3 | 91 2 1 1 0 1 2 0 93 0 0 1 0 0 1 (a) Do these data satisfy (i) WARP (ii) SARP? (b) Should we expect to be able to fit a stable demand system consistent with utility maximising behaviour to this data?
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a To determine whether these data satisfy the WARP Weak Axiom of Revealed Preference and SARP Strong ...
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Essentials Of Business Analytics
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams
1st Edition
128518727X, 978-1337360135, 978-1285187273
