Three predictions of the economic concept of unit price in a choice context.

@article{Madden2000ThreePO,
  title={Three predictions of the economic concept of unit price in a choice context.},
  author={Gregory J. Madden and Warren K. Bickel and Eric A. Jacobs},
  journal={Journal of the experimental analysis of behavior},
  year={2000},
  volume={73 1},
  pages={45-64}
}
Economic theory makes three predictions about consumption and response output in a choice situation: (a) When plotted on logarithmic coordinates, total consumption (i.e., summed across concurrent sources of reinforcement) should be a positively decelerating function, and total response output should be a bitonic function of unit price increases; (b) total consumption and response output should be determined by the value of the unit price ratio, independent of its cost and benefit components… CONTINUE READING

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