A new approach to the incorporation of attributes into consumer theory |
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Authors: | BRoss Barmish |
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Institution: | Department of Electrical Engineering, University of Rochester, Rochester, New York 14627 USA |
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Abstract: | A framework is developed which can be used to analyze a large class of consumption situations which cannot be handled by Lancaster's model. To achieve this end, a certain “expansion” of attribute space is performed. Subsequently, we formally define the notions of mixability and effective number of goods. This new model degenerates into Lancaster's model for the special case when . |
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