Published Authors
Empirical Validity Of Revealed Preference Theory: Analysis From The Choices Of Gsm Subscribers In Taraba State, Nigeria
The revealed preference theory, which is considered empirical, stipulates that a consumer’s behaviour can be observed from his purchasing habits. This implies that his choice reveals his preference such that if he purchases a specific bundle of goods, then that bundle is “revealed preferred,” given fixed income and prices, to any other bundle that he consumer could afford. This piece
Fear Response To Terrorism, Risk-aversion And Economic Performance: Analysis From The Religious Insurgency In North-eastern Nigeria
Terrorism is an asymmetric violent conflict that can result in sudden massive attack and destruction of lives and properties. As a zero-sum game, a gain by the antagonist automatically leads to a loss by his rival. This act can trigger an emotional response in form of fear encapsulated as “fight, freeze or flight” which can be related to risk-loving, risk-neutral
Is "the Demand For Characteristics" An Upgrade To Revealed Preference Theory? An Empirical Review
Having previously worked on the empirical validity of revealed preference theory, it is imperative to compare it with the new consumer theory which is called the demand for characteristics. Lancaster (1966) believes that the latter serves as a replacement to the traditional consumer theory. This paper investigates the two theories using the data generated from mobile phone users to ascertain
