Budget Constraints Affect Male Rats' Choices between Differently Priced Commodities.

ABSTRACT: Demand theory can be applied to analyse how a human or animal consumer changes her selection of commodities within a certain budget in response to changes in price of those commodities. This change in consumption assessed over a range of prices is defined as demand elasticity. Previously, income-compensated and income-uncompensated price changes have been investigated using human and animal consumers, as demand theory predicts different elasticities for both conditions. However, in these studies, demand elasticity was only evaluated over the entirety of choices made from a budget. As compensating budgets changes the number of attainable commodities relative to uncompensated conditions, and thus the number of choices, it remained unclear whether budget compensation has a trivial effect on d

SUBMITTER: van Wingerden M 

PROVIDER: S-EPMC4460023 | biostudies-literature | 2015

REPOSITORIES: biostudies-literature