The use of the value of expenditure to "reveal" the preference of a consumer or group of consumers for the bundle of goods they purchase compared to other bundles of equal or smaller value. Used by Samuelson (1939) and Ohyama (1972), especially, to examine the gains from trade.
Related information about revealed preference:
- Revealed preference - Wikipedia, the free encyclopedia
Revealed preference theory, pioneered by American economist Paul Samuelson, is a method for comparing the influence of policies on consumer behavior.
- Revealed Preference Definition | Investopedia
Revealed preference theory works on the assumption that consumers have considered a set of alternatives before making a purchasing decision.
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Professor Samuelson's "revealed preference" approach' ... Ch. V-VI;. " Consumption Theory in Terms of Revealed Preference ", Econosnica, s94S, pp. 243-253.