Related Experiment Video

Updated: Jan 19, 2026

The Consumer Preferences I
01:29

The Consumer Preferences I

690

Consumer Sensory Comparisons Among Beef, Horse, Elk, and Bison Using Preferred Attributes Elicitation and

Ibironke O Popoola1, Heather L Bruce1, Lynn M McMullen1

  • 1Dept. of Agricultural, Food, and Nutritional Science, Univ. of Alberta, 4-10 Agriculture Forestry Centre, Edmonton, Alberta, T6G 2P5, Canada.

Journal of Food Science
|September 12, 2019
PubMed

Related Concept Videos

The Consumer Preferences I01:29

The Consumer Preferences I

Consumer Preferences
The cardinal approach of utility uses an imaginary measure of satisfaction, utils. In the ordinal approach, consumer preferences refer to the ranking a consumer makes between different product bundles or baskets. A market basket is a collection of products a consumer can purchase. Two goods are taken in a basket to explain consumer preferences. For example, a market basket could have coffee and sandwiches.
Assumptions about Consumer Preferences
The following assumptions are...
690
The Consumer Preferences II01:23

The Consumer Preferences II

Assumptions about Consumer Preferences
Two assumptions about consumer preferences were explained in the previous lesson. The remaining two are explained below.
Transitivity
It means that a consumer's preferences are consistent across different market baskets. For example, a consumer prefers Basket A over Basket B and Basket B over Basket C. It is expected that the same consumer would prefer Basket A over Basket C. This can be symbolically represented as
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