Thread: Economics
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Old Saturday, April 13, 2013
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Quote:
Originally Posted by maria anum View Post
can any one plz guide that which consumer behaviour approach is more superior out of indifference curve approach and revealed preference approach
plz do guide me i am really confused
both are good
cardinal is also good
ordinal approach is also good
revealed preference is not so good due to following reasons
1
doesnt discuss giffen goods
2
doesnt elaborate market demand
ordinal is best and appreciated but its also based on the assumptions of cardinal theory..... so both inter related
regards
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