Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Von Neumann-Morgenstern utility theory is a promising method to measure and model consumer preference. Its theoretical foundations provide explicit risk measures and testable behavioral conditions for ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Robert Kelly is managing director of ...

This is a preview. Log in through your library . Abstract A theory of consumer behaviour is proposed which differs from the conventional approach. Flexible prices are introduced for goods as a measure ...