The preference of a concave nontransitive consumer is represented by a skew-symmetric and concave-convex bifunction on the set of all commodity bundles. This paper characterizes finite sets of demand observations that are consistent with the demand behavior of such kind of consumer by a generalized monotonicity property.

In consumer research, the role of the paired preference test appears to be sacrosanct, whether deserved or not. Paired preference simply means putting one product up against another, and instructing the respondent to indicate which one the respondent prefers. The ‘preference’ measure does not show how much one product is liked (or how much more one product is liked versus another). Rather, the ...

Diary industry in China has been in deep crisis since a series of quality scandals were exposed to public in 2008. Thanks to the traceability system in dairy supply chain and the growth of the internet, providing traceable dairy product information to the public is viewed as one of the best ways, mostly in terms of feasibility, to overcome the trust crisis and to promote the development of the ...

Revealed preference theory was initiated by Samuelson [8] as a way of defining the rational behaviour of a consumer in terms of a preference relation associated with a demand function. This topic has been axiomatically treated by Arrow (1959), Richter (1966), Sen (1971) and many others. Papers Banerjee (1995), Georgescu (2004; 2005) attempt at developing a theory of revealed preference for fuzz...

It has been well known since the earliest days of color photography that color-balance in general, and facial reproduction (flesh tones) in particular, are of dominant interest to the consumer, and significant research resources have been expended in satisfying this need. The general problem is a difficult one, spanning the factors that govern perception and personal preference, the physics and...

The drinkable yogurt marketplace is a competitive and growing category in the dairy industry. Understanding sensory differences is critical for understanding the product, and ultimately, consumer preference. The objective of this study was to identify and define the sensory characteristics of commercial drinkable yogurts and link these specific sensory attributes to consumer preferences among C...

In this paper we examine how increases in intertemporal price uncertainty affect the welfare of a consumer. In the preference structure of the consumer the coefficient of relative risk aversion and the elasticity of intertemporal substitution (EIS) are parametrically independent. We find that under empirically plausible circumstances, for each given degree of risk aversion an increase in price ...

In deciding what brand to buy consumers trade off between how valuable each brand is to them and its price. Scanner data based brand choice models that evaluate this trade off and allow for unobserved heterogeneity are a very popular topic. We extend this line of research by explicitly incorporating brand preferences rather than just utilizing brand specific constants and past purchase behavior...