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 whether the new consumer theory is an upgrade or replacement of the revealed preference theory as claimed. Our findings indicate that revealed preference theory has a combination of both subjective and scientific claims that are wide enough as typical of economic theory in which different mod
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