The Lexicographic Decision Rule -
The Lexicographic Decision Rule -
Nov 1, 2022
marketingstudyguide.com
SOLVED:A consumer has lexicographic preferences over x ∈𝐑^2, if the relatioth ≿satisfies x^' ≿x^2 whenever x1^1>x1^2, or x1^1=x1^2 and x2^1 ≥x2^2. (a) Sketch an indifference map for these preferences. (b) Can these preferences be represented by a continuous utility function? Why or why not?
SOLVED:A consumer has lexicographic preferences over x …
Dec 28, 2023
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