Incorporating altruistic preferences into the theory of consumer choice:
A)is not possible.
B)requires modifying the original assumptions of nonsatiation,completeness,and transitivity.
C)is possible,but results in corner solutions.
D)is possible without changing any assumptions.

Question

Quizplus · Accepted Answer

Incorporating altruistic preferences into the theory of consumer choice is possible without changing the foundational assumptions of nonsatiation, completeness, and transitivity. These assumptions are broad enough to accommodate preferences that include concern for others' welfare alongside one's own.

Incorporating Altruistic Preferences into the Theory of Consumer Choice