This paper explores and explains the application of the lattice theoretic approach to classic comparative statics in consumer theory. Through examples of preferences that are not quasiconcave, or not ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation The Theory publication and the companion on the practice of compiling consumer price indices (CPIs) is jointly published by ...

Von Neumann-Morgenstern utility theory is a promising method to measure and model consumer preference. Its theoretical foundations provide explicit risk measures and testable behavioral conditions for ...

1. An indifference curve is defined as a set of bundles that a consumer with a given income can afford, and among which she or he is indifferent. 2. More is preferred to less means that if the total ...

Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues ...