Abstract:Parametric utility model that predicts preferences of heterogeneous food consumers is flawed with issues of economic rationality. Using axiomatic preference indexes on food data from 459 household selected from a three-stage sampling procedure, the aim of the study was to check whether a finite set of price and demand observations made on household consumers in Delta state is rationalizable by some form of utility maximization that is common across all households. The study found heterogeneity in food consumpt… Show more
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