consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and …

system of commodity gives the social utility value of commodity and consumers only have two options for this utility value …: accept or not accept. Consumption behavior is the result that consumer compares the utility of currency with the social … utility of commodity. Consumer behavior theory has several logical paradox and this is a wrong theory …

, equivalently: (a) a strictly increasing cost of information acquisition; (b) for a given prior, the expected utility from a … decision problem; (c) for a given prior, an additive posterior-separable measure of uncertainty; and (d) a separable cost of …