BRIEF EVALUATION OF THE REVEAL PREFERENCE HYPOTHESIS

4 PAGES (1436 WORDS) Economics Paper

It is key and expedient to quickly recall that, the Reveal Preference Hypothesis was given by Paul Samuelson which is a major breakthrough in the demand theory. In line with the breakthrough, it is often and highly celebrated because of its intended advantage in the derivation of the demand theory without the use of the indifference curve as in the case of the ordinal world.